Lombard Odier Asset Management USA Corp Sells 6,208 Shares of Silicon Motion Technology Corporation $SIMO

Lombard Odier Asset Management USA Corp cut its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 44.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,757 shares of the semiconductor producer’s stock after selling 6,208 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Silicon Motion Technology were worth $719,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Wedbush Securities Inc. boosted its position in shares of Silicon Motion Technology by 1.7% in the fourth quarter. Wedbush Securities Inc. now owns 4,685 shares of the semiconductor producer’s stock valued at $434,000 after acquiring an additional 79 shares during the period. NewEdge Wealth LLC raised its holdings in Silicon Motion Technology by 3.6% during the 4th quarter. NewEdge Wealth LLC now owns 2,631 shares of the semiconductor producer’s stock valued at $244,000 after buying an additional 91 shares during the last quarter. Ballentine Partners LLC increased its stake in Silicon Motion Technology by 2.8% during the 4th quarter. Ballentine Partners LLC now owns 4,006 shares of the semiconductor producer’s stock valued at $371,000 after purchasing an additional 110 shares in the last quarter. Penn Capital Management Company LLC boosted its position in shares of Silicon Motion Technology by 2.3% in the third quarter. Penn Capital Management Company LLC now owns 5,821 shares of the semiconductor producer’s stock worth $552,000 after purchasing an additional 132 shares during the period. Finally, WealthCollab LLC lifted its stake in shares of Silicon Motion Technology by 77.4% during the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after acquiring an additional 151 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Trading Up 2.3%

NASDAQ SIMO opened at $282.68 on Wednesday. The stock has a 50-day moving average of $220.91 and a 200-day moving average of $150.57. The firm has a market cap of $9.59 billion, a PE ratio of 56.20, a price-to-earnings-growth ratio of 0.67 and a beta of 1.72. Silicon Motion Technology Corporation has a 1-year low of $68.41 and a 1-year high of $314.34.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. The business had revenue of $342.11 million for the quarter, compared to analysts’ expectations of $299.53 million. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The business’s revenue was up 105.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. As a group, equities research analysts forecast that Silicon Motion Technology Corporation will post 7.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Susquehanna increased their price objective on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a research note on Thursday, April 30th. Wall Street Zen raised Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Roth Mkm reissued a “buy” rating and set a $250.00 target price on shares of Silicon Motion Technology in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Silicon Motion Technology has an average rating of “Buy” and an average price target of $205.63.

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.