Marco Investment Management LLC continued to hold its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,900 shares of the semiconductor producer’s stock at the end of the first quarter. Marco Investment Management LLC’s holdings in Silicon Motion Technology Corporation were worth $229,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. ARGA Investment Management LP purchased a new position in shares of Silicon Motion Technology Corporation during the first quarter valued at approximately $55,464,000. Teachers Advisors LLC acquired a new stake in shares of Silicon Motion Technology Corporation during the fourth quarter valued at $15,450,000. Russell Investments Group Ltd. acquired a new stake in shares of Silicon Motion Technology Corporation during the fourth quarter valued at $15,184,000. William Blair Investment Management LLC increased its stake in Silicon Motion Technology Corporation by 161.9% in the fourth quarter. William Blair Investment Management LLC now owns 534,740 shares of the semiconductor producer’s stock worth $22,716,000 after buying an additional 330,596 shares in the last quarter. Finally, Northcape Capital Pty Ltd increased its stake in Silicon Motion Technology Corporation by 154.5% in the first quarter. Northcape Capital Pty Ltd now owns 501,200 shares of the semiconductor producer’s stock worth $23,431,000 after buying an additional 304,287 shares in the last quarter. Hedge funds and other institutional investors own 79.86% of the company’s stock.
Silicon Motion Technology Corporation (SIMO) traded down 2.528% during trading on Tuesday, reaching $51.085. The company’s stock had a trading volume of 455,756 shares. The stock’s 50-day moving average is $51.31 and its 200 day moving average is $45.53. The company has a market cap of $1.81 billion, a P/E ratio of 16.384 and a beta of 0.70. Silicon Motion Technology Corporation has a 12 month low of $37.37 and a 12 month high of $56.25.
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A number of analysts have recently commented on SIMO shares. B. Riley reissued a “buy” rating and issued a $68.75 price objective on shares of Silicon Motion Technology Corporation in a research note on Monday, May 1st. 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 Corporation in a report on Tuesday, April 11th. Standpoint Research upgraded Silicon Motion Technology Corporation from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, March 7th. They noted that the move was a valuation call. Loop Capital reissued a “buy” rating and set a $61.00 price objective (up previously from $53.00) on shares of Silicon Motion Technology Corporation in a research report on Tuesday, June 6th. Finally, Zacks Investment Research raised Silicon Motion Technology Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Friday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $57.56.
Silicon Motion Technology Corporation 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.
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