GABELLI & Co INVESTMENT ADVISERS INC. Sells 1,500 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

GABELLI & Co INVESTMENT ADVISERS INC. cut its holdings in Silicon Motion Technology Co. (NASDAQ:SIMOFree Report) by 2.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 59,409 shares of the semiconductor producer’s stock after selling 1,500 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Silicon Motion Technology were worth $3,640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Associates Management Inc. increased its position in Silicon Motion Technology by 0.3% in the 4th quarter. Alpine Associates Management Inc. now owns 955,514 shares of the semiconductor producer’s stock valued at $58,544,000 after buying an additional 3,300 shares in the last quarter. Hawk Ridge Capital Management LP increased its position in shares of Silicon Motion Technology by 63.1% during the third quarter. Hawk Ridge Capital Management LP now owns 944,559 shares of the semiconductor producer’s stock worth $48,409,000 after acquiring an additional 365,461 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of 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 worth $41,989,000 after acquiring an additional 758,640 shares during the last quarter. Cooper Creek Partners Management LLC lifted its position in Silicon Motion Technology by 771.4% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 760,554 shares of the semiconductor producer’s stock valued at $38,978,000 after acquiring an additional 673,278 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new position in Silicon Motion Technology during the 4th quarter valued at about $44,073,000. 78.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. B. Riley increased their price objective on Silicon Motion Technology from $101.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target on shares of Silicon Motion Technology in a research report on Monday, May 6th. Wedbush reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Silicon Motion Technology in a report on Friday, May 3rd. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Susquehanna boosted their price target on shares of Silicon Motion Technology from $100.00 to $110.00 and gave the stock a “positive” rating in a report on Monday, May 6th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Silicon Motion Technology has an average rating of “Buy” and a consensus price target of $91.13.

Check Out Our Latest Stock Report on Silicon Motion Technology

Silicon Motion Technology Stock Up 4.7 %

SIMO traded up $3.77 during trading on Thursday, hitting $83.72. 613,476 shares of the company traded hands, compared to its average volume of 426,108. Silicon Motion Technology Co. has a one year low of $49.50 and a one year high of $95.33. The stock’s fifty day moving average is $76.92 and its 200 day moving average is $69.36. The firm has a market cap of $2.82 billion, a P/E ratio of 47.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.89.

Silicon Motion Technology (NASDAQ:SIMOGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. Silicon Motion Technology had a return on equity of 7.78% and a net margin of 8.34%. The business had revenue of $189.31 million for the quarter, compared to the consensus estimate of $180.23 million. On average, equities research analysts forecast that Silicon Motion Technology Co. will post 2.77 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio is currently 113.07%.

Silicon Motion Technology Company 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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Institutional Ownership by Quarter for Silicon Motion Technology (NASDAQ:SIMO)

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