Raymond James & Associates reduced its stake in Silicon Motion Technology. (NASDAQ: SIMO – Get Rating ) grew 22.8% in the third quarter, according to the company’s most recent SEC filing. The institutional investor held 10,200 shares of the semiconductor maker after selling 3,011 shares during the quarter. As of a recent SEC filing, Raymond James & Associates’ stake in Silicon Motion Technology was valued at $665,000.
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Other hedge funds have also recently adjusted their positions in the company. Pinebridge Investments LP increased its stake in Silicon Motion Technology by 127.0% during the second quarter. Pinebridge Investments LP now owns 454 shares of the semiconductor producer, worth $38,000, after buying an additional 254 shares last quarter. Covestor Ltd purchased a new position at Silicon Motion Technology in the first quarter, valued at approximately $97,000. Alta Advisers Ltd increased its stake in Silicon Motion Technology by 11.6% in the second quarter. Alta Advisers Ltd now owns 2,009 shares of the semiconductor maker, worth $168,000, after buying an additional 209 shares in the previous quarter. Captrust Financial Advisors increased its stake in Silicon Motion Technology by 197.3% in the second quarter. Captrust Financial Advisors now owns 2,069 shares of the semiconductor producer, worth $173,000, after buying an additional 1,373 shares last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Silicon Motion Technology in the second quarter, valued at approximately $204,000. 66.67% of the shares are currently held by hedge funds and other institutional investors.
Wall Street analysts forecast growth
Many equity analysts have commented on the stock. StockNews.com assumed coverage on shares of Silicon Motion Technology in a research report on Wednesday, October 12th. They have a “hold” rating on the stock. Susquehanna raised shares of Silicon Motion Technology from a “neutral” rating to a “positive” rating and set a $108.00 price objective for the company in a research note on Wednesday, October 5th. Needham & Company LLC raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating and set a $75.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, November 2nd. Finally, Susquehanna Bancshares upgraded shares of Silicon Motion Technology to a “positive” rating and set a $108.00 price objective for the company in a report on Wednesday, October 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Moderate Buy” and an average price target of $101.60, according to MarketBeat.
Silicon Motion Technology Price Performance
Nasdaq: SIMO opened at $64.48 on Tuesday. The company has a market cap of $2.13 billion, a P/E ratio of 10.45, a PEG ratio of 2.41, and a beta of 0.92. Silicon Motion’s 1-year low was $51.82 and its 1-year high was $98.65. The company’s 50-day moving average is $64.29 and its 200-day moving average is $68.32.
Silicon Motion Technology (NASDAQ: SIMO – Get Rating ) last reported quarterly earnings data on Tuesday, November 1st. The semiconductor maker reported earnings of $1.29 per share for the quarter, missing analysts’ consensus estimate of $1.80 ($0.51). The business reported revenue of $250.81 million for the quarter, compared with analyst estimates of $279.33 million. Huirong Technology’s return on equity was 32.05%, and its net profit margin was 20.76%. Equity analysts expect Silicon Motion Technology Co. to post EPS of 5.74 for the fiscal year.
Introduction to Huirong Technology
(get rating)
Huirong Technology Co., Ltd. is engaged in the development, manufacture and supply of semiconductor products for the electronics market. The company’s products include flash memory controllers, storage solutions, and more. It offers embedded and expandable storage, radio frequency integrated circuits and embedded graphics.
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