Apis Capital Advisors LLC Lowers Stock Position in Silicon Motion Technology Corporation $SIMO

Apis Capital Advisors LLC lessened its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 25.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 214,080 shares of the semiconductor producer’s stock after selling 71,920 shares during the period. Silicon Motion Technology comprises 3.5% of Apis Capital Advisors LLC’s holdings, making the stock its 11th biggest position. Apis Capital Advisors LLC owned 0.63% of Silicon Motion Technology worth $19,845,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Wedbush Securities Inc. lifted its position in shares of Silicon Motion Technology by 1.7% in the 4th quarter. Wedbush Securities Inc. now owns 4,685 shares of the semiconductor producer’s stock worth $434,000 after purchasing an additional 79 shares during the period. NewEdge Wealth LLC lifted its position in Silicon Motion Technology by 3.6% during the fourth quarter. NewEdge Wealth LLC now owns 2,631 shares of the semiconductor producer’s stock valued at $244,000 after acquiring an additional 91 shares during the last quarter. Ballentine Partners LLC lifted its position in Silicon Motion Technology by 2.8% during the fourth quarter. Ballentine Partners LLC now owns 4,006 shares of the semiconductor producer’s stock valued at $371,000 after acquiring an additional 110 shares during the last quarter. Penn Capital Management Company LLC lifted its position in Silicon Motion Technology by 2.3% during the third quarter. Penn Capital Management Company LLC now owns 5,821 shares of the semiconductor producer’s stock valued at $552,000 after acquiring an additional 132 shares during the last quarter. Finally, WealthCollab LLC lifted its position in Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock valued at $32,000 after acquiring an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Up 8.6%

Shares of Silicon Motion Technology stock opened at $307.12 on Thursday. Silicon Motion Technology Corporation has a 12-month low of $68.79 and a 12-month high of $316.28. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 61.06, a PEG ratio of 0.69 and a beta of 1.72. The firm’s 50 day simple moving average is $224.72 and its two-hundred day simple moving average is $152.11.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $299.53 million. During the same quarter in the prior year, the business posted $0.60 EPS. Silicon Motion Technology’s revenue for the quarter was up 105.5% compared to the same quarter last year. On average, sell-side analysts predict that Silicon Motion Technology Corporation will post 7.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Susquehanna increased their target price on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Craig Hallum reissued a “buy” rating and set a $250.00 target price on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Wedbush increased their target price on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $222.14.

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.