Gamco Investors INC. ET AL Sells 4,029 Shares of Silicon Motion Technology Corporation $SIMO

Gamco Investors INC. ET AL lessened its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 17.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,560 shares of the semiconductor producer’s stock after selling 4,029 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Silicon Motion Technology were worth $1,721,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of SIMO. Brown Brothers Harriman & Co. purchased a new stake in shares of Silicon Motion Technology in the 3rd quarter worth $26,000. WealthCollab LLC lifted its holdings in shares of Silicon Motion Technology by 77.4% in the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after buying an additional 151 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Silicon Motion Technology by 169.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after buying an additional 366 shares during the period. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Silicon Motion Technology in the 4th quarter worth $71,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Silicon Motion Technology in the 2nd quarter worth $75,000. Institutional investors own 78.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings cut Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Craig Hallum restated a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, April 30th. Zacks Research upgraded Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Wedbush upped their price objective on Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $205.63.

Silicon Motion Technology Stock Up 2.1%

Silicon Motion Technology stock opened at $263.51 on Friday. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 52.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.67. Silicon Motion Technology Corporation has a 52 week low of $60.35 and a 52 week high of $273.90. The business’s 50-day moving average price is $163.48 and its 200 day moving average price is $126.61.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.31 by $0.27. The firm had revenue of $342.11 million for the quarter, compared to analyst estimates of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.Silicon Motion Technology’s revenue for the quarter was up 105.5% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Equities analysts expect that Silicon Motion Technology Corporation will post 7.77 EPS for the current year.

Silicon Motion Technology Company 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.