Silicon Motion Technology Corp. (SIMO) Shares Bought by Fmr LLC

Fmr LLC boosted its position in Silicon Motion Technology Corp. (NASDAQ:SIMO) by 62.8% during the fourth quarter, Holdings Channel reports. The firm owned 707,945 shares of the company’s stock after buying an additional 273,000 shares during the period. Fmr LLC’s holdings in Silicon Motion Technology Corp. were worth $30,074,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Emerald Acquisition Ltd. boosted its stake in shares of Silicon Motion Technology Corp. by 31.4% in the third quarter. Emerald Acquisition Ltd. now owns 314,511 shares of the company’s stock worth $16,280,000 after buying an additional 75,186 shares during the period. BARING ASSET MANAGEMENT Ltd bought a new position in Silicon Motion Technology Corp. during the third quarter valued at $2,206,000. Albion Financial Group UT boosted its position in Silicon Motion Technology Corp. by 54.7% in the third quarter. Albion Financial Group UT now owns 99,016 shares of the company’s stock valued at $5,128,000 after buying an additional 35,028 shares during the last quarter. Victory Capital Management Inc. boosted its position in Silicon Motion Technology Corp. by 6,217.3% in the third quarter. Victory Capital Management Inc. now owns 73,470 shares of the company’s stock valued at $3,805,000 after buying an additional 72,307 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Silicon Motion Technology Corp. by 541.2% in the third quarter. Acadian Asset Management LLC now owns 674,687 shares of the company’s stock valued at $34,940,000 after buying an additional 569,465 shares during the last quarter. 69.70% of the stock is owned by hedge funds and other institutional investors.

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

Silicon Motion Technology Corp. (NASDAQ:SIMO) opened at 44.99 on Tuesday. Silicon Motion Technology Corp. has a 52-week low of $35.53 and a 52-week high of $56.25. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 14.42 and a beta of 0.91. The firm’s 50-day moving average is $42.47 and its 200 day moving average is $44.82.

Silicon Motion Technology Corp. (NASDAQ:SIMO) last posted its earnings results on Monday, January 23rd. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. Silicon Motion Technology Corp. had a net margin of 19.95% and a return on equity of 28.02%. The firm earned $144.20 million during the quarter, compared to analysts’ expectations of $141.72 million. During the same period in the previous year, the business posted $0.55 EPS. The business’s revenue was up 47.1% compared to the same quarter last year. On average, equities research analysts predict that Silicon Motion Technology Corp. will post $3.70 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was first posted by Mideast Time and is the property of of Mideast Time. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.mideasttime.com/silicon-motion-technology-corp-simo-shares-bought-by-fmr-llc/1590043.html.

SIMO has been the subject of several research analyst reports. Loop Capital initiated coverage on shares of Silicon Motion Technology Corp. in a research note on Monday, December 5th. They set a “buy” rating and a $55.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Silicon Motion Technology Corp. in a research note on Wednesday, January 11th. Pacific Crest initiated coverage on shares of Silicon Motion Technology Corp. in a research note on Tuesday, January 3rd. They set an “overweight” rating and a $54.00 target price for the company. Northland Securities reaffirmed an “outperform” rating and set a $60.00 target price on shares of Silicon Motion Technology Corp. in a research note on Wednesday, December 28th. Finally, Nomura cut shares of Silicon Motion Technology Corp. from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a research note on Friday, January 20th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $54.18.

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.

5 Day Chart for NASDAQ:SIMO

Want to see what other hedge funds are holding SIMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Motion Technology Corp. (NASDAQ:SIMO).

Receive News & Ratings for Silicon Motion Technology Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology Corp. and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.