Silicon Motion Technology Corporation $SIMO Shares Bought by Royce & Associates LP

Royce & Associates LP lifted its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 41.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,540 shares of the semiconductor producer’s stock after acquiring an additional 27,040 shares during the period. Royce & Associates LP’s holdings in Silicon Motion Technology were worth $8,578,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Silicon Motion Technology during the third quarter worth approximately $26,000. WealthCollab LLC grew its position in shares of Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after acquiring an additional 151 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Silicon Motion Technology by 169.4% during the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after acquiring an additional 366 shares during the last quarter. MeadowBrook Investment Advisors LLC purchased a new position in shares of Silicon Motion Technology during the fourth quarter worth approximately $71,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Silicon Motion Technology during the third quarter worth approximately $79,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SIMO shares. Zacks Research upgraded shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Susquehanna lifted their price objective on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. Wedbush lifted their price objective on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $205.63.

Silicon Motion Technology Stock Performance

Shares of NASDAQ SIMO opened at $282.44 on Friday. The firm has a market capitalization of $9.58 billion, a P/E ratio of 56.15, a PEG ratio of 0.87 and a beta of 1.67. Silicon Motion Technology Corporation has a one year low of $60.35 and a one year high of $294.99. The company’s fifty day moving average is $179.29 and its two-hundred day moving average is $133.17.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.31 by $0.27. The company had revenue of $342.11 million for the quarter, compared to analyst estimates of $299.53 million. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The business’s revenue was up 105.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. On average, sell-side analysts forecast that Silicon Motion Technology Corporation will post 7.87 earnings per share for the current fiscal year.

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.