Brinker Capital Inc. Sells 7,249 Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO)

Brinker Capital Inc. cut its stake in Silicon Motion Technology Corp. (NASDAQ:SIMO) by 23.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,118 shares of the semiconductor producer’s stock after selling 7,249 shares during the quarter. Brinker Capital Inc. owned about 0.06% of Silicon Motion Technology worth $798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its position in Silicon Motion Technology by 8.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,523 shares of the semiconductor producer’s stock worth $94,307,000 after purchasing an additional 203,157 shares during the last quarter. ARGA Investment Management LP boosted its stake in Silicon Motion Technology by 10.0% during the fourth quarter. ARGA Investment Management LP now owns 1,922,113 shares of the semiconductor producer’s stock worth $66,313,000 after buying an additional 175,382 shares during the period. Investec Asset Management LTD boosted its stake in Silicon Motion Technology by 15.3% during the fourth quarter. Investec Asset Management LTD now owns 1,667,213 shares of the semiconductor producer’s stock worth $57,519,000 after buying an additional 220,976 shares during the period. JPMorgan Chase & Co. boosted its stake in Silicon Motion Technology by 25.8% during the third quarter. JPMorgan Chase & Co. now owns 1,206,624 shares of the semiconductor producer’s stock worth $64,796,000 after buying an additional 247,658 shares during the period. Finally, Royce & Associates LP boosted its stake in Silicon Motion Technology by 25.5% during the fourth quarter. Royce & Associates LP now owns 713,471 shares of the semiconductor producer’s stock worth $24,615,000 after buying an additional 144,975 shares during the period. Institutional investors and hedge funds own 70.43% of the company’s stock.

Several research analysts have commented on SIMO shares. Craig Hallum reaffirmed a “buy” rating and set a $52.00 price objective (down from $55.00) on shares of Silicon Motion Technology in a research note on Monday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, January 31st. Roth Capital lowered their target price on shares of Silicon Motion Technology from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, January 9th. Bank of America raised shares of Silicon Motion Technology from an “underperform” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Friday, January 18th. Finally, B. Riley lowered their target price on shares of Silicon Motion Technology from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Silicon Motion Technology has an average rating of “Buy” and a consensus target price of $51.54.

Shares of SIMO stock traded down $0.14 on Monday, hitting $40.79. The stock had a trading volume of 193,500 shares, compared to its average volume of 354,492. The company has a market capitalization of $1.48 billion, a P/E ratio of 11.96 and a beta of 1.07. Silicon Motion Technology Corp. has a one year low of $31.73 and a one year high of $61.85.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Tuesday, January 29th. The semiconductor producer reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.30. The firm had revenue of $123.39 million during the quarter, compared to the consensus estimate of $123.21 million. Silicon Motion Technology had a return on equity of 21.30% and a net margin of 18.91%. During the same period in the previous year, the company posted $0.79 earnings per share. On average, analysts predict that Silicon Motion Technology Corp. will post 2.19 EPS for the current year.

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Silicon Motion Technology Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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

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