Melqart Asset Management UK Ltd Has $9.12 Million Holdings in Silicon Motion Technology Corporation $SIMO

Melqart Asset Management UK Ltd lessened its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,417 shares of the semiconductor producer’s stock after selling 7,754 shares during the period. Melqart Asset Management UK Ltd owned about 0.29% of Silicon Motion Technology worth $9,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new position in shares of Silicon Motion Technology during the third quarter worth about $26,000. WealthCollab LLC raised its position in 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 buying an additional 151 shares during the last quarter. Arax Advisory Partners raised its position in Silicon Motion Technology by 220.9% in the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock valued at $41,000 after buying an additional 307 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Silicon Motion Technology by 169.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after acquiring an additional 366 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new stake in Silicon Motion Technology in the 4th quarter valued at approximately $71,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SIMO shares. Roth Mkm reaffirmed a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, April 29th. Wedbush boosted their price objective on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Weiss Ratings cut shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Finally, Susquehanna lifted their price target on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a research note on Thursday, April 30th. One investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $205.63.

Silicon Motion Technology Stock Up 2.3%

NASDAQ:SIMO opened at $282.68 on Wednesday. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 56.20, a price-to-earnings-growth ratio of 0.67 and a beta of 1.72. Silicon Motion Technology Corporation has a twelve month low of $68.41 and a twelve month high of $314.34. The stock’s 50 day moving average price is $220.91 and its two-hundred day moving average price is $150.57.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The company had revenue of $342.11 million for the quarter, compared to analysts’ expectations of $299.53 million. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was up 105.5% compared to the same quarter last year. As a group, analysts anticipate that Silicon Motion Technology Corporation will post 7.65 earnings per share for the current 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.