Silicon Motion Technology Corporation $SIMO Shares Sold by Clearline Capital LP

Clearline Capital LP trimmed its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO – Free Report) by 21.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,911 shares of the semiconductor producer’s stock after selling 36,766 shares during the period. Clearline Capital LP’s holdings in Silicon Motion Technology were worth $12,321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Apis Capital Advisors LLC boosted its stake in Silicon Motion Technology by 11.7% during the 3rd quarter. Apis Capital Advisors LLC now owns 286,000 shares of the semiconductor producer’s stock valued at $27,116,000 after purchasing an additional 30,000 shares during the period. SG Americas Securities LLC raised its position in shares of Silicon Motion Technology by 44.3% during the 4th quarter. SG Americas Securities LLC now owns 16,290 shares of the semiconductor producer’s stock worth $1,510,000 after buying an additional 5,002 shares in the last quarter. UBS Group AG raised its position in shares of Silicon Motion Technology by 39.0% during the 4th quarter. UBS Group AG now owns 351,541 shares of the semiconductor producer’s stock worth $32,588,000 after buying an additional 98,548 shares in the last quarter. Neumeier Poma Investment Counsel LLC raised its position in shares of Silicon Motion Technology by 10.7% during the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 478,463 shares of the semiconductor producer’s stock worth $45,363,000 after buying an additional 46,208 shares in the last quarter. Finally, Granahan Investment Management LLC raised its position in shares of Silicon Motion Technology by 59.7% during the 3rd quarter. Granahan Investment Management LLC now owns 207,758 shares of the semiconductor producer’s stock worth $19,698,000 after buying an additional 77,667 shares in the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.

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Silicon Motion Technology Price Performance

NASDAQ SIMO opened at $307.12 on Thursday. The company’s 50 day simple moving average is $224.72 and its 200 day simple moving average is $152.11. Silicon Motion Technology Corporation has a 12 month low of $68.79 and a 12 month high of $316.28. The company has a market capitalization of $10.41 billion, a P/E ratio of 61.06, a PEG ratio of 0.69 and a beta of 1.72.

Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) last released its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, topping 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 business had revenue of $342.11 million for the quarter, compared to the consensus estimate of $299.53 million. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 105.5% on a year-over-year basis. On average, analysts anticipate that Silicon Motion Technology Corporation will post 7.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on SIMO shares. Wall Street Zen upgraded shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Wedbush boosted their price target on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Roth Mkm restated a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $222.14.

Read Our Latest Research Report on SIMO

Silicon Motion Technology Profile

(Free Report)

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.

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