UBS Group AG Acquires 98,548 Shares of Silicon Motion Technology Corporation $SIMO

UBS Group AG grew its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 39.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 351,541 shares of the semiconductor producer’s stock after purchasing an additional 98,548 shares during the quarter. UBS Group AG’s holdings in Silicon Motion Technology were worth $32,588,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Sanctuary Advisors LLC boosted its stake in shares of Silicon Motion Technology by 4.0% in the 4th quarter. Sanctuary Advisors LLC now owns 4,331 shares of the semiconductor producer’s stock valued at $401,000 after purchasing an additional 167 shares during the last quarter. Quent Capital LLC bought a new position in shares of Silicon Motion Technology in the 4th quarter valued at about $278,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Silicon Motion Technology in the 4th quarter valued at about $7,014,000. WealthCollab LLC boosted its stake in shares of Silicon Motion Technology by 77.4% in the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock valued at $32,000 after purchasing an additional 151 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Silicon Motion Technology by 20.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,373 shares of the semiconductor producer’s stock valued at $220,000 after purchasing an additional 411 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SIMO shares. Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Wedbush raised their target price on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Wall Street Zen raised shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. JPMorgan Chase & Co. raised their target price on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, William Blair initiated coverage on shares of Silicon Motion Technology in a research note on Thursday, January 22nd. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Silicon Motion Technology has an average rating of “Buy” and a consensus target price of $205.63.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $253.59 on Friday. The company’s 50 day simple moving average is $137.05 and its 200 day simple moving average is $115.31. Silicon Motion Technology Corporation has a fifty-two week low of $52.10 and a fifty-two week high of $254.84. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 50.42, a PEG ratio of 0.75 and a beta of 1.67.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.27. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The business had revenue of $342.11 million for the quarter, compared to analyst estimates of $299.53 million. During the same quarter last year, the firm earned $0.60 EPS. Silicon Motion Technology’s quarterly revenue was up 105.5% compared to the same quarter last year. As a group, analysts predict that Silicon Motion Technology Corporation will post 7.77 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.