Silicon Motion Technology Corporation $SIMO Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC boosted its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO – Free Report) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 153,519 shares of the semiconductor producer’s stock after acquiring an additional 3,032 shares during the quarter. First Eagle Investment Management LLC’s holdings in Silicon Motion Technology were worth $14,231,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Apis Capital Advisors LLC lifted its position in Silicon Motion Technology by 11.7% during the 3rd quarter. Apis Capital Advisors LLC now owns 286,000 shares of the semiconductor producer’s stock worth $27,116,000 after acquiring an additional 30,000 shares during the period. SG Americas Securities LLC acquired a new stake in Silicon Motion Technology during the 3rd quarter worth about $1,070,000. Neumeier Poma Investment Counsel LLC lifted its position in Silicon Motion Technology by 10.7% during the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 478,463 shares of the semiconductor producer’s stock worth $45,363,000 after acquiring an additional 46,208 shares during the period. Royce & Associates LP acquired a new stake in Silicon Motion Technology during the 3rd quarter worth about $6,210,000. Finally, Reinhart Partners LLC. lifted its position in Silicon Motion Technology by 2.0% during the 3rd quarter. Reinhart Partners LLC. now owns 1,500,934 shares of the semiconductor producer’s stock worth $142,305,000 after acquiring an additional 29,351 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

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Silicon Motion Technology Stock Up 3.3%

Shares of SIMO stock opened at $262.05 on Tuesday. The stock has a market cap of $8.89 billion, a PE ratio of 52.10, a price-to-earnings-growth ratio of 0.78 and a beta of 1.67. The business has a 50-day simple moving average of $141.88 and a 200-day simple moving average of $117.61. Silicon Motion Technology Corporation has a 52-week low of $55.23 and a 52-week high of $272.00.

Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.27. The business had revenue of $342.11 million during the quarter, compared to analysts’ expectations of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The company’s revenue for the quarter was up 105.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Sell-side analysts anticipate that Silicon Motion Technology Corporation will post 7.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SIMO has been the subject of a number of research reports. Susquehanna lifted their price target on Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a research report on Thursday, April 30th. B. Riley Financial reaffirmed a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Wedbush lifted their price target on Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Roth Mkm reissued a “buy” rating and issued a $250.00 price objective on shares of Silicon Motion Technology in a report on Wednesday, April 29th. Finally, Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $205.63.

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About Silicon Motion Technology

(Free Report)

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.

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