Vest Financial LLC Purchases Shares of 2,605 Silicon Motion Technology Corporation $SIMO

Vest Financial LLC purchased a new stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,605 shares of the semiconductor producer’s stock, valued at approximately $241,000.

Other hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new stake in Silicon Motion Technology in the third quarter valued at $26,000. WealthCollab LLC boosted its stake in shares of Silicon Motion Technology by 77.4% during the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after acquiring an additional 151 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Silicon Motion Technology by 169.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after acquiring an additional 366 shares in the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Silicon Motion Technology during the 4th quarter worth about $71,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Silicon Motion Technology during the 2nd quarter worth about $75,000. 78.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SIMO. William Blair began coverage on shares of Silicon Motion Technology in a research note on Thursday, January 22nd. They set an “outperform” rating on the stock. Zacks Research lowered shares of Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Wall Street Zen lowered shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 25th. Wedbush increased their target price on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Silicon Motion Technology in a research note on Friday, March 27th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Silicon Motion Technology presently has an average rating of “Moderate Buy” and an average target price of $186.88.

Silicon Motion Technology Trading Up 0.6%

Shares of Silicon Motion Technology stock opened at $218.78 on Friday. The firm has a market capitalization of $7.44 billion, a PE ratio of 43.50, a P/E/G ratio of 1.47 and a beta of 1.09. Silicon Motion Technology Corporation has a twelve month low of $48.66 and a twelve month high of $229.32. The firm’s 50-day moving average price is $130.66 and its 200 day moving average price is $111.85.

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.