University of Texas Texas AM Investment Management Co. Makes New $1.41 Million Investment in Silicon Motion Technology Corporation $SIMO

University of Texas Texas AM Investment Management Co. acquired a new position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 15,256 shares of the semiconductor producer’s stock, valued at approximately $1,414,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new position in shares of Silicon Motion Technology in the 3rd quarter valued at $26,000. WealthCollab LLC grew its stake in shares of Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after purchasing an additional 151 shares during the period. Arax Advisory Partners grew its stake in shares of Silicon Motion Technology by 220.9% during the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock worth $41,000 after purchasing an additional 307 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Silicon Motion Technology by 169.4% in the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after purchasing an additional 366 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new position in Silicon Motion Technology in the fourth quarter valued at about $71,000. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Down 1.5%

SIMO opened at $276.40 on Tuesday. Silicon Motion Technology Corporation has a 12 month low of $67.38 and a 12 month high of $314.34. The company has a fifty day simple moving average of $217.54 and a 200 day simple moving average of $149.19. The stock has a market cap of $9.37 billion, a P/E ratio of 54.95, a P/E/G ratio of 0.68 and a beta of 1.72.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $299.53 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s quarterly revenue was up 105.5% on a year-over-year basis. On average, equities research analysts expect that Silicon Motion Technology Corporation will post 7.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SIMO has been the topic of several analyst reports. Craig Hallum reissued a “buy” rating and issued a $250.00 target price on shares of Silicon Motion Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their target price on Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Weiss Ratings lowered Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Silicon Motion Technology currently has an average rating of “Buy” and an average price target of $205.63.

About Silicon Motion Technology

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.