Marshall Wace North America L.P. Buys New Position in Silicon Motion Technology Corp. (NASDAQ:SIMO)

Marshall Wace North America L.P. purchased a new stake in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,006 shares of the semiconductor producer’s stock, valued at approximately $516,000.

Several other institutional investors also recently bought and sold shares of SIMO. Massachusetts Financial Services Co. MA boosted its holdings in Silicon Motion Technology by 8.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,523 shares of the semiconductor producer’s stock worth $94,307,000 after purchasing an additional 203,157 shares in the last quarter. Lazard Asset Management LLC lifted its position in Silicon Motion Technology by 0.5% during the 1st quarter. Lazard Asset Management LLC now owns 2,369,420 shares of the semiconductor producer’s stock worth $93,922,000 after acquiring an additional 11,353 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Silicon Motion Technology by 131.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,603,438 shares of the semiconductor producer’s stock worth $63,562,000 after acquiring an additional 910,427 shares during the last quarter. Yiheng Capital LLC lifted its position in Silicon Motion Technology by 88.7% during the 4th quarter. Yiheng Capital LLC now owns 821,513 shares of the semiconductor producer’s stock worth $28,342,000 after acquiring an additional 386,212 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Silicon Motion Technology by 25.5% during the 4th quarter. Royce & Associates LP now owns 713,471 shares of the semiconductor producer’s stock worth $24,615,000 after acquiring an additional 144,975 shares during the last quarter. Institutional investors and hedge funds own 69.90% of the company’s stock.

SIMO stock traded down $0.55 during midday trading on Thursday, reaching $41.28. The company’s stock had a trading volume of 138,852 shares, compared to its average volume of 332,570. Silicon Motion Technology Corp. has a 52 week low of $31.73 and a 52 week high of $61.85. The stock has a market capitalization of $1.51 billion, a PE ratio of 12.11, a PEG ratio of 4.18 and a beta of 1.01. The stock’s 50-day moving average price is $41.46.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Thursday, May 2nd. The semiconductor producer reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.07. The company had revenue of $94.69 million for the quarter, compared to analyst estimates of $93.23 million. Silicon Motion Technology had a net margin of 17.28% and a return on equity of 19.04%. The business’s revenue for the quarter was down 27.4% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. Equities research analysts expect that Silicon Motion Technology Corp. will post 1.99 EPS for the current year.

A number of brokerages have recently commented on SIMO. BidaskClub lowered shares of Ames National from a “hold” rating to a “sell” rating in a research report on Wednesday. B. Riley upped their price objective on shares of Airgain from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Morgan Stanley lowered shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 22nd. Cowen reissued a “buy” rating and issued a $6.50 price target on shares of Daseke in a research report on Monday, May 6th. Finally, Zacks Investment Research cut shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Silicon Motion Technology currently has an average rating of “Buy” and a consensus price target of $49.95.

Silicon Motion Technology Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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Institutional Ownership by Quarter for Silicon Motion Technology (NASDAQ:SIMO)

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