Silicon Motion Technology Corporation $SIMO Shares Sold by Clearline Capital LP

Clearline Capital LP lessened its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 21.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,911 shares of the semiconductor producer’s stock after selling 36,766 shares during the quarter. Clearline Capital LP owned about 0.39% of Silicon Motion Technology worth $12,321,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in shares of Silicon Motion Technology in the 3rd quarter valued at $26,000. WealthCollab LLC boosted 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 valued at $32,000 after purchasing an additional 151 shares during the last quarter. Arax Advisory Partners boosted its holdings in shares of Silicon Motion Technology by 220.9% in the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock valued at $41,000 after purchasing an additional 307 shares during the last quarter. EverSource Wealth Advisors LLC boosted 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 valued at $44,000 after purchasing an additional 366 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of Silicon Motion Technology in the 4th quarter valued at $71,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Stock Performance

SIMO opened at $307.12 on Thursday. The company has a 50-day moving average of $224.72 and a 200-day moving average of $152.11. The company has a market capitalization of $10.41 billion, a P/E ratio of 61.06, a PEG ratio of 0.69 and a beta of 1.72. Silicon Motion Technology Corporation has a 1-year low of $68.79 and a 1-year high of $316.28.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.27. The company had revenue of $342.11 million during the quarter, compared to the consensus estimate of $299.53 million. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The company’s revenue was up 105.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. As a group, sell-side analysts expect that Silicon Motion Technology Corporation will post 7.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wedbush raised their target price on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings downgraded shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Finally, Susquehanna raised their target price on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $222.14.

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.