Farther Finance Advisors LLC Has $195,000 Holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO)

Farther Finance Advisors LLC lifted its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 66.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,819 shares of the semiconductor producer’s stock after buying an additional 1,529 shares during the period. Farther Finance Advisors LLC’s holdings in Silicon Motion Technology were worth $195,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SIMO. Rhumbline Advisers lifted its position in shares of Silicon Motion Technology by 8.7% during the 4th quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer’s stock worth $306,000 after buying an additional 453 shares during the period. Sei Investments Co. boosted its stake in shares of Silicon Motion Technology by 7.1% in the 4th quarter. Sei Investments Co. now owns 58,823 shares of the semiconductor producer’s stock valued at $3,179,000 after purchasing an additional 3,875 shares in the last quarter. Pertento Partners LLP grew its holdings in shares of Silicon Motion Technology by 31.2% in the 4th quarter. Pertento Partners LLP now owns 1,166,914 shares of the semiconductor producer’s stock worth $63,072,000 after purchasing an additional 277,462 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Silicon Motion Technology by 62.6% in the 4th quarter. First Trust Advisors LP now owns 62,117 shares of the semiconductor producer’s stock worth $3,357,000 after purchasing an additional 23,921 shares during the last quarter. Finally, Heartland Advisors Inc. increased its position in shares of Silicon Motion Technology by 21.6% during the 4th quarter. Heartland Advisors Inc. now owns 447,138 shares of the semiconductor producer’s stock worth $24,168,000 after purchasing an additional 79,383 shares in the last quarter. Institutional investors own 78.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SIMO. B. Riley restated a “buy” rating and issued a $90.00 price target (up from $75.00) on shares of Silicon Motion Technology in a research report on Thursday, June 5th. Bank of America upgraded shares of Silicon Motion Technology from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Wednesday. Roth Capital increased their price target on Silicon Motion Technology from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a report on Wednesday, April 30th. Finally, Citigroup raised Silicon Motion Technology to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and an average target price of $83.89.

Silicon Motion Technology Stock Performance

NASDAQ:SIMO opened at $71.49 on Friday. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 1.72 and a beta of 0.80. The stock’s fifty day moving average price is $56.09 and its two-hundred day moving average price is $54.46. Silicon Motion Technology Corporation has a 52-week low of $37.21 and a 52-week high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Tuesday, April 29th. The semiconductor producer reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. The company had revenue of $166.49 million during the quarter, compared to the consensus estimate of $162.69 million. Silicon Motion Technology had a return on equity of 12.00% and a net margin of 12.06%. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, equities analysts predict that Silicon Motion Technology Corporation will post 3.08 EPS for the current fiscal 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.