Keeley Teton Advisors LLC Sells 2,004 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Keeley Teton Advisors LLC cut its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,312 shares of the semiconductor producer’s stock after selling 2,004 shares during the period. Keeley Teton Advisors LLC’s holdings in Silicon Motion Technology were worth $1,368,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Silicon Motion Technology by 123.2% during the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after purchasing an additional 484 shares during the period. Blue Trust Inc. grew its position in shares of Silicon Motion Technology by 64.7% during the 4th quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer’s stock worth $122,000 after buying an additional 883 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Silicon Motion Technology during the fourth quarter valued at $208,000. Choreo LLC bought a new stake in shares of Silicon Motion Technology in the fourth quarter valued at about $209,000. Finally, Quadrant Capital Group LLC increased its position in Silicon Motion Technology by 7.2% during the 4th quarter. Quadrant Capital Group LLC now owns 3,959 shares of the semiconductor producer’s stock valued at $214,000 after purchasing an additional 267 shares during the period. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $41.36 on Wednesday. Silicon Motion Technology Co. has a 1-year low of $37.21 and a 1-year high of $85.87. The business has a fifty day moving average price of $51.54 and a 200-day moving average price of $53.97. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.36 and a beta of 0.81.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. On average, equities research analysts anticipate that Silicon Motion Technology Co. will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology declared that its board has initiated a share buyback program on Wednesday, February 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the semiconductor producer to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

SIMO has been the topic of several research reports. StockNews.com lowered shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of Silicon Motion Technology in a report on Friday, February 7th. Finally, Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.63.

Silicon Motion Technology Company 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.