Lord Abbett & CO. LLC Has $92.23 Million Holdings in Silicon Motion Technology Corporation $SIMO

Lord Abbett & CO. LLC lessened its position in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 12.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 994,977 shares of the semiconductor producer’s stock after selling 139,707 shares during the period. Lord Abbett & CO. LLC’s holdings in Silicon Motion Technology were worth $92,234,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Reinhart Partners LLC. grew its stake in Silicon Motion Technology by 4.8% in the fourth quarter. Reinhart Partners LLC. now owns 1,573,355 shares of the semiconductor producer’s stock valued at $145,851,000 after acquiring an additional 72,421 shares during the period. Pertento Partners LLP grew its stake in Silicon Motion Technology by 2.5% in the third quarter. Pertento Partners LLP now owns 1,290,409 shares of the semiconductor producer’s stock valued at $122,344,000 after acquiring an additional 31,405 shares during the period. Lazard Asset Management LLC grew its stake in Silicon Motion Technology by 2.3% in the third quarter. Lazard Asset Management LLC now owns 783,663 shares of the semiconductor producer’s stock valued at $74,299,000 after acquiring an additional 17,741 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Silicon Motion Technology by 40.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 623,953 shares of the semiconductor producer’s stock valued at $57,840,000 after acquiring an additional 181,206 shares during the period. Finally, Neumeier Poma Investment Counsel LLC grew its stake in Silicon Motion Technology by 0.7% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 481,818 shares of the semiconductor producer’s stock valued at $44,665,000 after acquiring an additional 3,355 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

SIMO has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. 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 reaffirmed a “buy” rating and set a $250.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Craig Hallum reaffirmed a “buy” rating and set a $250.00 target price on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Finally, Weiss Ratings cut Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $205.63.

Silicon Motion Technology Trading Up 2.2%

Shares of Silicon Motion Technology stock opened at $280.49 on Friday. The business’s fifty day simple moving average is $214.29 and its 200 day simple moving average is $147.40. The firm has a market capitalization of $9.51 billion, a P/E ratio of 55.76, a price-to-earnings-growth ratio of 0.67 and a beta of 1.72. Silicon Motion Technology Corporation has a 12 month low of $66.07 and a 12 month high of $314.34.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS 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 analyst estimates of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.Silicon Motion Technology’s quarterly revenue was up 105.5% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. Analysts predict that Silicon Motion Technology Corporation will post 7.65 EPS for the current fiscal year.

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.