Silicon Motion Technology Corporation $SIMO Shares Bought by Moody National Bank Trust Division

Moody National Bank Trust Division grew its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 16.1% during the third quarter, Holdings Channel.com reports. The firm owned 24,554 shares of the semiconductor producer’s stock after buying an additional 3,404 shares during the quarter. Moody National Bank Trust Division’s holdings in Silicon Motion Technology were worth $6,875,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SIMO. Wolf Hill Capital Management LP acquired a new stake in Silicon Motion Technology in the fourth quarter worth about $53,893,000. Hawk Ridge Capital Management LP increased its stake in Silicon Motion Technology by 48.9% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,173,315 shares of the semiconductor producer’s stock valued at $131,752,000 after buying an additional 385,568 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Silicon Motion Technology by 112.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 425,697 shares of the semiconductor producer’s stock worth $47,802,000 after buying an additional 225,221 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in shares of Silicon Motion Technology in the 1st quarter worth approximately $22,458,000. Finally, Summit Partners Public Asset Management LLC lifted its stake in shares of Silicon Motion Technology by 33.7% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 534,932 shares of the semiconductor producer’s stock worth $49,588,000 after acquiring an additional 134,927 shares during the period. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Stock Up 0.9%

Silicon Motion Technology stock traded up $2.51 during mid-day trading on Tuesday, hitting $284.96. The company’s stock had a trading volume of 1,075,192 shares, compared to its average volume of 882,700. The stock has a market capitalization of $9.66 billion, a P/E ratio of 33.41, a P/E/G ratio of 0.49 and a beta of 1.69. Silicon Motion Technology Corporation has a twelve month low of $79.76 and a twelve month high of $355.00. The stock’s fifty day moving average price is $256.75 and its two-hundred day moving average price is $240.65.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor producer reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. The company had revenue of $451.00 million during the quarter, compared to the consensus estimate of $403.41 million. Silicon Motion Technology had a return on equity of 32.04% and a net margin of 22.06%.The company’s quarterly revenue was up 127.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. Equities analysts expect that Silicon Motion Technology Corporation will post 10.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SIMO shares. Needham & Company LLC raised their price objective on shares of Silicon Motion Technology from $240.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen cut Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Craig Hallum reissued a “buy” rating and issued a $325.00 price objective on shares of Silicon Motion Technology in a research note on Friday, July 31st. B. Riley Financial upped their price objective on Silicon Motion Technology from $312.00 to $350.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Roth Capital reaffirmed a “buy” rating and set a $350.00 target price on shares of Silicon Motion Technology in a research note on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and an average target price of $341.43.

About Silicon Motion Technology

Silicon Motion Technology Corporation is a fabless semiconductor company that designs and develops NAND flash storage controllers and related semiconductor solutions. Its products manage data storage, performance, reliability and power consumption in devices that use NAND flash memory.

The company supplies controllers for client solid-state drives (SSDs), enterprise and industrial storage applications, embedded storage products such as eMMC and UFS, and removable storage including memory cards and USB flash drives.