Legal & General Group Plc Has $243,000 Position in Silicon Motion Technology Corporation (SIMO)

Legal & General Group Plc maintained its stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,200 shares of the semiconductor producer’s stock at the end of the first quarter. Legal & General Group Plc’s holdings in Silicon Motion Technology Corporation were worth $243,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its stake in shares of Silicon Motion Technology Corporation by 71.5% in the first quarter. US Bancorp DE now owns 2,194 shares of the semiconductor producer’s stock valued at $102,000 after buying an additional 915 shares in the last quarter. Dubuque Bank & Trust Co. raised its stake in shares of Silicon Motion Technology Corporation by 253.4% in the first quarter. Dubuque Bank & Trust Co. now owns 4,531 shares of the semiconductor producer’s stock valued at $212,000 after buying an additional 3,249 shares in the last quarter. Sei Investments Co. raised its stake in shares of Silicon Motion Technology Corporation by 4.7% in the first quarter. Sei Investments Co. now owns 6,106 shares of the semiconductor producer’s stock valued at $286,000 after buying an additional 275 shares in the last quarter. Great Lakes Advisors LLC raised its stake in shares of Silicon Motion Technology Corporation by 8.6% in the first quarter. Great Lakes Advisors LLC now owns 6,753 shares of the semiconductor producer’s stock valued at $316,000 after buying an additional 535 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Silicon Motion Technology Corporation by 16.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,922 shares of the semiconductor producer’s stock valued at $324,000 after buying an additional 982 shares in the last quarter. 80.90% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Corporation (SIMO) traded up 0.52% during midday trading on Friday, hitting $42.59. The stock had a trading volume of 37,022 shares. The company’s 50-day moving average price is $44.80 and its 200 day moving average price is $45.78. The company has a market capitalization of $1.52 billion, a PE ratio of 14.40 and a beta of 0.68. Silicon Motion Technology Corporation has a 52 week low of $37.37 and a 52 week high of $56.25.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last released its quarterly earnings data on Monday, July 31st. The semiconductor producer reported $0.69 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Silicon Motion Technology Corporation had a net margin of 18.91% and a return on equity of 24.24%. The firm had revenue of $132.70 million for the quarter, compared to analyst estimates of $132.92 million. During the same period last year, the business earned $0.86 EPS. The company’s revenue was down 5.7% compared to the same quarter last year. On average, analysts expect that Silicon Motion Technology Corporation will post $2.67 EPS for the current year.

Silicon Motion Technology Corporation announced that its board has authorized a stock buyback plan on Monday, July 31st that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the semiconductor producer to reacquire up to 13.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

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Several analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $68.75 price target on shares of Silicon Motion Technology Corporation in a research note on Wednesday, April 26th. Lake Street Capital reaffirmed a “buy” rating and issued a $50.00 price target (down previously from $56.00) on shares of Silicon Motion Technology Corporation in a research note on Wednesday, August 2nd. Craig Hallum reaffirmed a “buy” rating and issued a $60.00 price target (down previously from $67.00) on shares of Silicon Motion Technology Corporation in a research note on Wednesday, August 2nd. Roth Capital decreased their price target on Silicon Motion Technology Corporation from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, August 1st. Finally, Summit Redstone reaffirmed a “hold” rating on shares of Silicon Motion Technology Corporation in a research note on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $56.84.

Silicon Motion Technology Corporation Company 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 Corporation (NASDAQ:SIMO)

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