Koch Industries Inc. Acquires 2,121 Shares of Silicon Motion Technology Corp. (SIMO)

Koch Industries Inc. increased its stake in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) by 37.1% during the first quarter, Holdings Channel reports. The fund owned 7,843 shares of the semiconductor producer’s stock after buying an additional 2,121 shares during the period. Koch Industries Inc.’s holdings in Silicon Motion Technology Corp. were worth $367,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Quentec Asset Management LLC bought a new stake in Silicon Motion Technology Corp. during the third quarter valued at $3,107,000. Phocas Financial Corp. boosted its stake in Silicon Motion Technology Corp. by 5.1% in the third quarter. Phocas Financial Corp. now owns 140,571 shares of the semiconductor producer’s stock valued at $7,280,000 after buying an additional 6,774 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Silicon Motion Technology Corp. during the fourth quarter valued at $15,184,000. Northcape Capital Pty Ltd bought a new stake in Silicon Motion Technology Corp. during the fourth quarter valued at $8,365,000. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Silicon Motion Technology Corp. by 19.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 4,966 shares of the semiconductor producer’s stock valued at $211,000 after buying an additional 809 shares during the last quarter. Hedge funds and other institutional investors own 69.70% of the company’s stock.

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

Silicon Motion Technology Corp. (NASDAQ SIMO) traded down 1.50% on Tuesday, reaching $53.30. 617,634 shares of the company traded hands. The firm has a 50 day moving average of $49.07 and a 200-day moving average of $45.00. The stock has a market capitalization of $1.89 billion, a PE ratio of 17.09 and a beta of 0.91. Silicon Motion Technology Corp. has a one year low of $37.37 and a one year high of $56.25.

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Several equities research analysts have weighed in on SIMO shares. Standpoint Research upgraded shares of Silicon Motion Technology Corp. from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, March 7th. They noted that the move was a valuation call. Needham & Company LLC reiterated a “buy” rating and set a $56.00 price target (down previously from $60.00) on shares of Silicon Motion Technology Corp. in a research report on Tuesday, April 11th. B. Riley reiterated a “buy” rating and set a $68.75 price target on shares of Silicon Motion Technology Corp. in a research report on Wednesday, April 26th. Pacific Crest lifted their price target on shares of Silicon Motion Technology Corp. from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research upgraded shares of Silicon Motion Technology Corp. from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $57.56.

Silicon Motion Technology Corp. Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SIMO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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