Sylebra HK Co Ltd Takes Position in Silicon Motion Technology Corporation (SIMO)

Sylebra HK Co Ltd acquired a new stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 98,101 shares of the semiconductor producer’s stock, valued at approximately $4,712,000. Silicon Motion Technology accounts for about 0.4% of Sylebra HK Co Ltd’s holdings, making the stock its 16th biggest position. Sylebra HK Co Ltd owned 0.28% of Silicon Motion Technology as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Great Lakes Advisors LLC increased its stake in shares of Silicon Motion Technology by 3.1% in the 2nd quarter. Great Lakes Advisors LLC now owns 6,959 shares of the semiconductor producer’s stock valued at $336,000 after purchasing an additional 206 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Silicon Motion Technology by 5.2% in the 2nd quarter. Profund Advisors LLC now owns 11,424 shares of the semiconductor producer’s stock valued at $551,000 after purchasing an additional 560 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Silicon Motion Technology by 1.2% in the 2nd quarter. Wells Fargo & Company MN now owns 58,659 shares of the semiconductor producer’s stock valued at $2,829,000 after purchasing an additional 701 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Silicon Motion Technology by 5.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 21,157 shares of the semiconductor producer’s stock valued at $1,020,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Virtu KCG Holdings LLC increased its stake in shares of Silicon Motion Technology by 25.3% in the 2nd quarter. Virtu KCG Holdings LLC now owns 5,770 shares of the semiconductor producer’s stock valued at $278,000 after purchasing an additional 1,164 shares in the last quarter. 82.84% of the stock is owned by institutional investors and hedge funds.

Shares of Silicon Motion Technology Corporation (SIMO) opened at $53.40 on Monday. Silicon Motion Technology Corporation has a 52 week low of $37.37 and a 52 week high of $55.68. The company has a market capitalization of $1,886.52, a P/E ratio of 20.30 and a beta of 0.64.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Friday, October 27th. The semiconductor producer reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. The company had revenue of $127.20 million during the quarter, compared to analyst estimates of $127.24 million. During the same period in the previous year, the business earned $1.07 EPS. Silicon Motion Technology’s quarterly revenue was down 19.8% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Thursday, November 9th were paid a dividend of $0.30 per share. This is a positive change from Silicon Motion Technology’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 2.25%. The ex-dividend date was Wednesday, November 8th. Silicon Motion Technology’s payout ratio is 35.04%.

Several brokerages recently weighed in on SIMO. Summit Redstone upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Thursday. Northland Securities restated a “buy” rating and issued a $60.00 price target on shares of Silicon Motion Technology in a research note on Sunday, October 29th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price target (up previously from $54.00) on shares of Silicon Motion Technology in a research note on Monday, October 9th. ValuEngine upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, B. Riley set a $69.00 price target on Silicon Motion Technology and gave the company a “buy” rating in a research note on Wednesday, October 25th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Silicon Motion Technology presently has an average rating of “Buy” and an average target price of $57.67.

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Silicon Motion Technology Profile

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

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

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