GSA Capital Partners LLP Has $926,000 Holdings in Silicon Motion Technology Corporation $SIMO

GSA Capital Partners LLP lifted its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 119.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,991 shares of the semiconductor producer’s stock after acquiring an additional 5,430 shares during the quarter. GSA Capital Partners LLP’s holdings in Silicon Motion Technology were worth $926,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SIMO. Brown Brothers Harriman & Co. acquired a new position in shares of Silicon Motion Technology during the third quarter worth $26,000. WealthCollab LLC lifted its holdings in shares of Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after purchasing an additional 151 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Silicon Motion Technology by 169.4% during the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 366 shares during the period. MeadowBrook Investment Advisors LLC acquired a new position in shares of Silicon Motion Technology during the fourth quarter worth $71,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Silicon Motion Technology during the second quarter worth $75,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Stock Up 4.8%

Shares of NASDAQ SIMO opened at $276.14 on Friday. Silicon Motion Technology Corporation has a twelve month low of $60.35 and a twelve month high of $278.50. The firm has a fifty day simple moving average of $166.53 and a 200 day simple moving average of $127.65. The company has a market capitalization of $9.36 billion, a PE ratio of 54.90, a P/E/G ratio of 0.81 and a beta of 1.67.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results 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. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The business had revenue of $342.11 million during the quarter, compared to the consensus estimate of $299.53 million. During the same quarter last year, the firm earned $0.60 earnings per share. Silicon Motion Technology’s quarterly revenue was up 105.5% on a year-over-year basis. As a group, equities analysts expect that Silicon Motion Technology Corporation will post 7.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SIMO shares. Wedbush lifted their price target on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Zacks Research upgraded shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Needham & Company LLC lifted their target price on shares of Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Silicon Motion Technology has an average rating of “Buy” and an average target price 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.