Monarch Partners Asset Management LLC acquired a new stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 71,020 shares of the semiconductor producer’s stock, valued at approximately $3,425,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. US Bancorp DE boosted its stake in shares of Silicon Motion Technology Corporation by 71.5% in the first quarter. US Bancorp DE now owns 2,194 shares of the semiconductor producer’s stock valued at $102,000 after buying an additional 915 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Silicon Motion Technology Corporation during the second quarter valued at approximately $204,000. Dubuque Bank & Trust Co. boosted its stake in shares of Silicon Motion Technology Corporation by 253.4% in the first quarter. Dubuque Bank & Trust Co. now owns 4,531 shares of the semiconductor producer’s stock valued at $212,000 after buying an additional 3,249 shares during the last quarter. Atria Investments LLC acquired a new stake in shares of Silicon Motion Technology Corporation during the second quarter valued at approximately $270,000. Finally, Sei Investments Co. boosted its stake in shares of Silicon Motion Technology Corporation by 4.7% in the first quarter. Sei Investments Co. now owns 6,106 shares of the semiconductor producer’s stock valued at $286,000 after buying an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 80.90% of the company’s stock.

Silicon Motion Technology Corporation (NASDAQ SIMO) opened at 42.50 on Friday. The stock has a 50 day moving average of $44.59 and a 200 day moving average of $45.77. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 14.37 and a beta of 0.68. Silicon Motion Technology Corporation has a one year low of $37.37 and a one year high of $56.25.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last posted its earnings results on Monday, July 31st. The semiconductor producer reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by $0.04. Silicon Motion Technology Corporation had a net margin of 18.91% and a return on equity of 24.24%. The firm had revenue of $132.70 million during the quarter, compared to the consensus estimate of $132.92 million. During the same quarter last year, the firm posted $0.86 EPS. The business’s revenue was down 5.7% on a year-over-year basis. Equities research analysts predict that Silicon Motion Technology Corporation will post $2.67 EPS for the current fiscal year.

Silicon Motion Technology Corporation declared that its board has initiated a share repurchase plan on Monday, July 31st that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the semiconductor producer to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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Several analysts have commented on the stock. ValuEngine cut shares of Silicon Motion Technology Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. B. Riley reiterated a “buy” rating and set a $68.75 target price on shares of Silicon Motion Technology Corporation in a research report on Wednesday, April 26th. Loop Capital dropped their target price on shares of Silicon Motion Technology Corporation from $61.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, July 10th. BidaskClub cut shares of Silicon Motion Technology Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, Craig Hallum reiterated a “buy” rating and set a $60.00 target price (down previously from $67.00) on shares of Silicon Motion Technology Corporation in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Silicon Motion Technology Corporation has a consensus rating of “Hold” and a consensus target price of $56.84.

Silicon Motion Technology Corporation Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

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Institutional Ownership by Quarter for Silicon Motion Technology Corporation (NASDAQ:SIMO)

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