Wolf Hill Capital Management LP Takes $53.89 Million Position in Silicon Motion Technology Corporation $SIMO

Wolf Hill Capital Management LP acquired a new stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 581,370 shares of the semiconductor producer’s stock, valued at approximately $53,893,000. Silicon Motion Technology accounts for about 6.0% of Wolf Hill Capital Management LP’s investment portfolio, making the stock its 6th largest position. Wolf Hill Capital Management LP owned 1.71% of Silicon Motion Technology at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SIMO. Robeco Institutional Asset Management B.V. raised its position in shares of Silicon Motion Technology by 40.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 623,953 shares of the semiconductor producer’s stock valued at $57,840,000 after purchasing an additional 181,206 shares during the period. Hawk Ridge Capital Management LP raised its position in shares of Silicon Motion Technology by 71.8% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 372,747 shares of the semiconductor producer’s stock valued at $35,340,000 after purchasing an additional 155,817 shares during the period. Lazard Asset Management LLC raised its position in shares of Silicon Motion Technology by 19.8% during the 2nd quarter. Lazard Asset Management LLC now owns 765,922 shares of the semiconductor producer’s stock valued at $57,573,000 after purchasing an additional 126,566 shares during the period. UBS Group AG raised its position in shares of Silicon Motion Technology by 39.0% during the 4th quarter. UBS Group AG now owns 351,541 shares of the semiconductor producer’s stock valued at $32,588,000 after purchasing an additional 98,548 shares during the period. Finally, SG Capital Management LLC bought a new stake in shares of Silicon Motion Technology during the 4th quarter valued at $8,381,000. 78.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on SIMO shares. Wedbush raised 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. Weiss Ratings downgraded shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Roth Mkm restated a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $205.63.

Silicon Motion Technology Stock Performance

Shares of NASDAQ SIMO opened at $280.49 on Monday. The company has a market cap of $9.51 billion, a P/E ratio of 55.76, a P/E/G ratio of 0.68 and a beta of 1.72. The firm’s fifty day moving average is $214.29 and its two-hundred day moving average is $147.84. Silicon Motion Technology Corporation has a 52-week low of $66.07 and a 52-week high of $314.34.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.27. The company had revenue of $342.11 million for the quarter, compared to the consensus estimate of $299.53 million. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. Silicon Motion Technology’s revenue for the quarter was up 105.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. As a group, analysts forecast that Silicon Motion Technology Corporation will post 7.65 EPS 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.