Peregrine Capital Management LLC cut its holdings in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 363,263 shares of the semiconductor producer’s stock after selling 1,459 shares during the period. Peregrine Capital Management LLC owned 1.01% of Silicon Motion Technology worth $16,122,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new position in Silicon Motion Technology during the 1st quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Silicon Motion Technology by 201.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 923 shares of the semiconductor producer’s stock valued at $37,000 after purchasing an additional 617 shares during the period. Penserra Capital Management LLC lifted its position in Silicon Motion Technology by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,320 shares of the semiconductor producer’s stock valued at $52,000 after purchasing an additional 440 shares during the period. Private Capital Group LLC lifted its position in Silicon Motion Technology by 63.5% during the 1st quarter. Private Capital Group LLC now owns 1,630 shares of the semiconductor producer’s stock valued at $65,000 after purchasing an additional 633 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Silicon Motion Technology by 1,460.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,919 shares of the semiconductor producer’s stock valued at $76,000 after acquiring an additional 1,796 shares during the period. Institutional investors own 69.98% of the company’s stock.
A number of analysts recently weighed in on SIMO shares. BidaskClub downgraded shares of Ames National from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Zacks Investment Research downgraded shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 2nd. B. Riley increased their price target on shares of Airgain from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Morgan Stanley downgraded shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 22nd. Finally, Cowen reiterated a “buy” rating and issued a $6.50 price target on shares of Daseke in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $49.95.
Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor producer reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $97.33 million. Silicon Motion Technology had a net margin of 17.28% and a return on equity of 19.04%. The business’s quarterly revenue was down 28.5% on a year-over-year basis. During the same period last year, the business earned $0.92 EPS. On average, analysts anticipate that Silicon Motion Technology Corp. will post 1.94 EPS for the current fiscal year.
About Silicon Motion Technology
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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