Silicon Motion Technology Target of Unusually High Options Trading (NASDAQ:SIMO)

Silicon Motion Technology Corporation (NASDAQ:SIMO) was the target of some unusual options trading on Friday. Stock traders bought 3,447 call options on the company. This is an increase of approximately 294% compared to the average volume of 875 call options.

Analyst Ratings Changes

A number of analysts recently weighed in on SIMO shares. Wedbush set a $120.00 target price on Silicon Motion Technology in a research report on Monday, November 3rd. Roth Mkm reissued a “buy” rating and set a $120.00 price target on shares of Silicon Motion Technology in a research note on Friday, October 31st. William Blair began coverage on shares of Silicon Motion Technology in a research note on Thursday, January 22nd. They issued an “outperform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 target price on shares of Silicon Motion Technology in a report on Monday, November 3rd. Finally, Susquehanna lifted their target price on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Silicon Motion Technology currently has a consensus rating of “Moderate Buy” and an average price target of $113.13.

Silicon Motion Technology Trading Up 2.4%

Shares of NASDAQ:SIMO opened at $118.93 on Friday. The company has a 50-day moving average price of $99.04 and a 200-day moving average price of $90.42. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. Silicon Motion Technology has a 12 month low of $37.21 and a 12 month high of $127.67.

Institutional Investors Weigh In On Silicon Motion Technology

Several institutional investors and hedge funds have recently bought and sold shares of SIMO. Frontier Capital Management Co. LLC increased its stake in shares of Silicon Motion Technology by 115.4% during the second quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer’s stock valued at $96,301,000 after buying an additional 686,261 shares during the period. Ophir Asset Management Pty Ltd bought a new stake in Silicon Motion Technology in the second quarter valued at $27,941,000. Boston Partners increased its position in Silicon Motion Technology by 33.2% during the 2nd quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock valued at $55,294,000 after purchasing an additional 183,458 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Silicon Motion Technology by 40.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 623,953 shares of the semiconductor producer’s stock valued at $57,840,000 after purchasing an additional 181,206 shares during the period. Finally, Hawk Ridge Capital Management LP raised its holdings in Silicon Motion Technology by 71.8% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 372,747 shares of the semiconductor producer’s stock worth $35,340,000 after purchasing an additional 155,817 shares in the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

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.