Silicon Motion Technology Co. (NASDAQ:SIMO) Stock Position Decreased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 29.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,800 shares of the semiconductor producer’s stock after selling 61,700 shares during the period. Canada Pension Plan Investment Board owned about 0.43% of Silicon Motion Technology worth $7,826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Silicon Motion Technology by 7.0% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 32,309 shares of the semiconductor producer’s stock worth $1,746,000 after purchasing an additional 2,100 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Silicon Motion Technology by 6.4% during the fourth quarter. Gabelli Funds LLC now owns 28,400 shares of the semiconductor producer’s stock valued at $1,535,000 after acquiring an additional 1,700 shares during the period. Oak Associates Ltd. OH grew its position in shares of Silicon Motion Technology by 11.2% during the fourth quarter. Oak Associates Ltd. OH now owns 34,246 shares of the semiconductor producer’s stock worth $1,851,000 after acquiring an additional 3,436 shares during the last quarter. Kennedy Capital Management LLC lifted its position in Silicon Motion Technology by 4.4% in the 4th quarter. Kennedy Capital Management LLC now owns 147,599 shares of the semiconductor producer’s stock valued at $7,978,000 after purchasing an additional 6,167 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Silicon Motion Technology by 22.8% during the 4th quarter. Invesco Ltd. now owns 1,038,779 shares of the semiconductor producer’s stock valued at $56,146,000 after purchasing an additional 192,646 shares during the period. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Trading Down 0.7 %

Shares of Silicon Motion Technology stock opened at $38.95 on Tuesday. Silicon Motion Technology Co. has a 52 week low of $37.21 and a 52 week high of $85.87. The stock has a market cap of $1.31 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.36 and a beta of 0.81. The company’s 50-day moving average price is $50.39 and its two-hundred day moving average price is $53.33.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. On average, equities analysts predict that Silicon Motion Technology Co. will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the semiconductor producer to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SIMO shares. StockNews.com cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of Silicon Motion Technology in a research report on Friday, February 7th. Finally, Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Silicon Motion Technology has a consensus rating of “Moderate Buy” and a consensus price target of $80.63.

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.