Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC trimmed its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 40.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,528 shares of the semiconductor producer’s stock after selling 20,472 shares during the period. Calamos Advisors LLC’s holdings in Silicon Motion Technology were worth $1,809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in Silicon Motion Technology by 1,250.9% in the 3rd quarter. Wellington Management Group LLP now owns 819,289 shares of the semiconductor producer’s stock valued at $41,989,000 after acquiring an additional 758,640 shares during the last quarter. Morgan Stanley increased its holdings in shares of Silicon Motion Technology by 171.9% in the fourth quarter. Morgan Stanley now owns 1,119,471 shares of the semiconductor producer’s stock valued at $72,754,000 after purchasing an additional 707,765 shares during the last quarter. Cooper Creek Partners Management LLC increased its holdings in shares of Silicon Motion Technology by 771.4% in the third quarter. Cooper Creek Partners Management LLC now owns 760,554 shares of the semiconductor producer’s stock valued at $38,978,000 after purchasing an additional 673,278 shares during the last quarter. Invesco Ltd. purchased a new position in Silicon Motion Technology during the third quarter worth approximately $32,024,000. Finally, Segantii Capital Management Ltd boosted its stake in Silicon Motion Technology by 178.0% during the third quarter. Segantii Capital Management Ltd now owns 833,991 shares of the semiconductor producer’s stock worth $42,742,000 after buying an additional 533,991 shares during the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock opened at $71.84 on Monday. The company’s 50 day simple moving average is $73.66 and its 200-day simple moving average is $64.55. Silicon Motion Technology Co. has a 1 year low of $49.50 and a 1 year high of $95.33. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 45.47, a price-to-earnings-growth ratio of 3.87 and a beta of 0.85.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. Silicon Motion Technology had a return on equity of 7.01% and a net margin of 8.27%. The company had revenue of $202.38 million for the quarter, compared to analyst estimates of $197.60 million. Equities analysts expect that Silicon Motion Technology Co. will post 2.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Silicon Motion Technology in a research note on Wednesday, April 10th. B. Riley raised their price objective on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their target price on shares of Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Needham & Company LLC increased their price target on shares of Silicon Motion Technology from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Craig Hallum lifted their price target on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Silicon Motion Technology currently has an average rating of “Moderate Buy” and a consensus target price of $87.57.

About Silicon Motion Technology

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.