Calamos Advisors LLC Lowers Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Calamos Advisors LLC lessened its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 40.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 29,528 shares of the semiconductor producer’s stock after selling 20,472 shares during the period. Calamos Advisors LLC owned 0.09% of Silicon Motion Technology worth $1,809,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Avior Wealth Management LLC purchased a new stake in Silicon Motion Technology in the 4th quarter worth approximately $178,000. Camelot Portfolios LLC bought a new stake in shares of Silicon Motion Technology during the 4th quarter valued at $244,000. Reinhart Partners LLC. lifted its stake in shares of Silicon Motion Technology by 62.8% during the 4th quarter. Reinhart Partners LLC. now owns 700,748 shares of the semiconductor producer’s stock valued at $42,935,000 after buying an additional 270,202 shares in the last quarter. CVA Family Office LLC bought a new position in Silicon Motion Technology in the 4th quarter worth $65,000. Finally, FNY Investment Advisers LLC increased its stake in Silicon Motion Technology by 46.0% in the 4th quarter. FNY Investment Advisers LLC now owns 9,650 shares of the semiconductor producer’s stock worth $591,000 after buying an additional 3,042 shares in the last quarter. Institutional investors own 78.02% of the company’s stock.

Analyst Ratings Changes

SIMO has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and set a $85.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price objective on shares of Silicon Motion Technology from $77.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Needham & Company LLC boosted their target price on shares of Silicon Motion Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. B. Riley raised their target price on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Craig Hallum boosted their price target on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Silicon Motion Technology has an average rating of “Moderate Buy” and an average price target of $87.57.

Silicon Motion Technology Price Performance

Shares of NASDAQ SIMO opened at $71.84 on Monday. The stock has a market capitalization of $2.37 billion, a P/E ratio of 45.47, a PEG ratio of 3.87 and a beta of 0.85. Silicon Motion Technology Co. has a 1-year low of $49.50 and a 1-year high of $95.33. The business’s 50 day moving average is $73.66 and its two-hundred day moving average is $64.55.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.12. The firm had revenue of $202.38 million for the quarter, compared to the consensus estimate of $197.60 million. Silicon Motion Technology had a return on equity of 7.01% and a net margin of 8.27%. As a group, equities research analysts anticipate that Silicon Motion Technology Co. will post 2.65 earnings per share for the current fiscal year.

Silicon Motion Technology 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.