Silicon Motion Technology Corporation $SIMO Shares Sold by Apis Capital Advisors LLC

Apis Capital Advisors LLC decreased its stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 25.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,080 shares of the semiconductor producer’s stock after selling 71,920 shares during the quarter. Silicon Motion Technology comprises 3.5% of Apis Capital Advisors LLC’s holdings, making the stock its 11th biggest position. Apis Capital Advisors LLC’s holdings in Silicon Motion Technology were worth $19,845,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UBS Group AG increased its stake in shares of Silicon Motion Technology by 39.0% in the fourth quarter. UBS Group AG now owns 351,541 shares of the semiconductor producer’s stock worth $32,588,000 after acquiring an additional 98,548 shares during the period. SG Americas Securities LLC increased its stake in shares of Silicon Motion Technology by 44.3% in the fourth quarter. SG Americas Securities LLC now owns 16,290 shares of the semiconductor producer’s stock worth $1,510,000 after acquiring an additional 5,002 shares during the period. Neumeier Poma Investment Counsel LLC increased its stake in shares of Silicon Motion Technology by 10.7% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 478,463 shares of the semiconductor producer’s stock worth $45,363,000 after acquiring an additional 46,208 shares during the period. Granahan Investment Management LLC increased its stake in shares of Silicon Motion Technology by 59.7% in the third quarter. Granahan Investment Management LLC now owns 207,758 shares of the semiconductor producer’s stock worth $19,698,000 after acquiring an additional 77,667 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Silicon Motion Technology by 89.7% in the third quarter. JPMorgan Chase & Co. now owns 8,634 shares of the semiconductor producer’s stock worth $819,000 after acquiring an additional 4,082 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Stock Performance

Shares of NASDAQ SIMO opened at $307.12 on Thursday. The company’s fifty day moving average price is $224.72 and its 200 day moving average price is $152.11. Silicon Motion Technology Corporation has a 1 year low of $68.79 and a 1 year high of $316.28. The company has a market capitalization of $10.41 billion, a PE ratio of 61.06, a price-to-earnings-growth ratio of 0.69 and a beta of 1.72.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $342.11 million for the quarter, compared to the consensus estimate of $299.53 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 105.5% compared to the same quarter last year. On average, equities analysts expect that Silicon Motion Technology Corporation will post 7.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SIMO shares. Susquehanna increased their price objective on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Silicon Motion Technology has a consensus rating of “Buy” and a consensus price target of $222.14.

Silicon Motion Technology 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.