Vident Investment Advisory LLC boosted its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 65.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,844 shares of the semiconductor producer’s stock after purchasing an additional 5,100 shares during the period. Vident Investment Advisory LLC’s holdings in Silicon Motion Technology were worth $823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Quantbot Technologies LP acquired a new stake in Silicon Motion Technology during the first quarter worth about $27,000. Employees Retirement System of Texas acquired a new stake in Silicon Motion Technology during the second quarter valued at $67,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Silicon Motion Technology during the 2nd quarter worth about $71,000. Heritage Wealth Management LLC increased its stake in shares of Silicon Motion Technology by 57.7% in the 2nd quarter. Heritage Wealth Management LLC now owns 1,424 shares of the semiconductor producer’s stock valued at $91,000 after purchasing an additional 521 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Silicon Motion Technology by 40.6% during the first quarter. Bank of Montreal Can now owns 1,429 shares of the semiconductor producer’s stock worth $99,000 after purchasing an additional 413 shares in the last quarter. 74.04% of the stock is currently owned by institutional investors.
A number of equities analysts have weighed in on SIMO shares. Needham & Company LLC upped their price objective on shares of Silicon Motion Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. Zacks Investment Research lowered shares of Silicon Motion Technology from a “strong-buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Wednesday, September 29th. B. Riley boosted their price objective on Silicon Motion Technology from $94.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 2nd. Cowen raised their target price on Silicon Motion Technology from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, August 2nd. Finally, Morgan Stanley upgraded Silicon Motion Technology from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $68.00 to $78.00 in a research report on Thursday, August 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $98.29.
Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Thursday, July 29th. The semiconductor producer reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.11. Silicon Motion Technology had a return on equity of 18.30% and a net margin of 16.27%. The company had revenue of $221.10 million during the quarter, compared to analysts’ expectations of $203.95 million. Equities research analysts forecast that Silicon Motion Technology Co. will post 5.41 earnings per share for the current fiscal year.
Silicon Motion Technology Profile
Silicon Motion Technology Corp. engages in the development, manufacture and supply of semiconductor products for the electronics market. The firm products include Flash Controllers, Storage Solutions, and others. It offers embedded and expandable storage, radio frequency integrated circuits and embedded graphics.
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