FNY Investment Advisers LLC Sells 500 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

FNY Investment Advisers LLC trimmed its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,500 shares of the semiconductor producer’s stock after selling 500 shares during the period. Silicon Motion Technology comprises 1.0% of FNY Investment Advisers LLC’s holdings, making the stock its 24th biggest holding. FNY Investment Advisers LLC’s holdings in Silicon Motion Technology were worth $754,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Millennium Management LLC raised its stake in shares of Silicon Motion Technology by 4.3% during the 4th quarter. Millennium Management LLC now owns 1,135,877 shares of the semiconductor producer’s stock worth $73,821,000 after acquiring an additional 47,147 shares in the last quarter. Morgan Stanley boosted its holdings in Silicon Motion Technology by 171.9% during the fourth quarter. Morgan Stanley now owns 1,119,471 shares of the semiconductor producer’s stock worth $72,754,000 after buying an additional 707,765 shares in the last quarter. Sand Grove Capital Management LLP grew its position in Silicon Motion Technology by 5.8% during the fourth quarter. Sand Grove Capital Management LLP now owns 1,061,055 shares of the semiconductor producer’s stock valued at $68,958,000 after buying an additional 58,496 shares during the period. Hawk Ridge Capital Management LP acquired a new stake in Silicon Motion Technology during the first quarter valued at $43,584,000. Finally, State Street Corp grew its position in shares of Silicon Motion Technology by 2.8% in the first quarter. State Street Corp now owns 664,051 shares of the semiconductor producer’s stock valued at $43,601,000 after purchasing an additional 17,927 shares during the period. 62.63% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Stock Down 0.2 %

Silicon Motion Technology stock traded down $0.12 during midday trading on Friday, hitting $51.32. The company’s stock had a trading volume of 483,159 shares, compared to its average volume of 405,570. The stock’s 50-day moving average price is $57.17 and its 200-day moving average price is $61.84. Silicon Motion Technology Co. has a 12 month low of $50.50 and a 12 month high of $95.33. The company has a market capitalization of $1.71 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 6.75 and a beta of 0.93.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor producer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.05). The firm had revenue of $140.36 million during the quarter, compared to the consensus estimate of $134.93 million. Silicon Motion Technology had a net margin of 12.24% and a return on equity of 11.94%. As a group, equities analysts anticipate that Silicon Motion Technology Co. will post 1.53 EPS for the current year.

Analyst Ratings Changes

SIMO has been the topic of a number of recent research reports. Craig Hallum lowered their price target on shares of Silicon Motion Technology from $120.00 to $106.00 and set a “buy” rating on the stock in a research report on Monday, July 24th. StockNews.com started coverage on shares of Silicon Motion Technology in a research note on Thursday, August 17th. They set a “hold” rating on the stock. B. Riley reduced their price target on shares of Silicon Motion Technology from $107.00 to $59.00 in a research note on Thursday, July 27th. Roth Mkm reissued a “neutral” rating and issued a $60.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, September 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of Silicon Motion Technology in a research note on Thursday, August 17th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and an average target price of $86.43.

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.