Oddo BHF Asset Management Sas Decreases Position in Silicon Motion Technology Corporation $SIMO

Oddo BHF Asset Management Sas lessened its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 11.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,500 shares of the semiconductor producer’s stock after selling 25,000 shares during the period. Oddo BHF Asset Management Sas owned approximately 0.57% of Silicon Motion Technology worth $17,845,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SIMO. Royal Bank of Canada boosted its position in Silicon Motion Technology by 87.6% in the 1st quarter. Royal Bank of Canada now owns 69,660 shares of the semiconductor producer’s stock valued at $3,522,000 after buying an additional 32,527 shares during the period. Goldman Sachs Group Inc. boosted its position in Silicon Motion Technology by 155.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 73,988 shares of the semiconductor producer’s stock valued at $3,741,000 after buying an additional 44,976 shares during the period. Geode Capital Management LLC boosted its position in Silicon Motion Technology by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 37,806 shares of the semiconductor producer’s stock valued at $2,842,000 after buying an additional 962 shares during the period. Creative Planning purchased a new position in Silicon Motion Technology in the 2nd quarter valued at approximately $324,000. Finally, Legal & General Group Plc boosted its position in Silicon Motion Technology by 141.4% in the 2nd quarter. Legal & General Group Plc now owns 9,738 shares of the semiconductor producer’s stock valued at $732,000 after buying an additional 5,704 shares during the period. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SIMO shares. JPMorgan Chase & Co. raised their price target on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Weiss Ratings cut shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Roth Mkm reaffirmed a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Finally, Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Silicon Motion Technology currently has an average rating of “Buy” and a consensus price target of $205.63.

Silicon Motion Technology Price Performance

Shares of SIMO opened at $276.40 on Tuesday. Silicon Motion Technology Corporation has a 1-year low of $67.38 and a 1-year high of $314.34. The stock has a market cap of $9.37 billion, a PE ratio of 54.95, a price-to-earnings-growth ratio of 0.68 and a beta of 1.72. The firm has a fifty day moving average price of $217.54 and a 200 day moving average price of $149.19.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.27. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The firm had revenue of $342.11 million during the quarter, compared to analysts’ expectations of $299.53 million. During the same period in the previous year, the company earned $0.60 earnings per share. Silicon Motion Technology’s quarterly revenue was up 105.5% compared to the same quarter last year. As a group, equities analysts expect that Silicon Motion Technology Corporation will post 7.65 EPS for the current fiscal year.

Silicon Motion Technology Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.