Silicon Motion Technology Corp. (SIMO) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in Silicon Motion Technology Corp. (NASDAQ:SIMO) by 236.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,230 shares of the semiconductor producer’s stock after buying an additional 138,571 shares during the period. Wells Fargo & Company MN owned approximately 0.56% of Silicon Motion Technology worth $9,473,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Daiwa Securities Group Inc. purchased a new position in shares of Silicon Motion Technology during the 3rd quarter worth about $101,000. Advisors Preferred LLC boosted its stake in shares of Silicon Motion Technology by 451.0% during the 3rd quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock worth $128,000 after purchasing an additional 2,183 shares during the period. Seven Eight Capital LP purchased a new position in shares of Silicon Motion Technology during the 2nd quarter worth about $135,000. Hikari Power Ltd bought a new stake in Silicon Motion Technology during the 2nd quarter valued at about $204,000. Finally, Airain ltd bought a new stake in Silicon Motion Technology during the 2nd quarter valued at about $213,000. 82.79% of the stock is owned by institutional investors and hedge funds.

Shares of Silicon Motion Technology Corp. (NASDAQ SIMO) opened at $54.25 on Thursday. Silicon Motion Technology Corp. has a twelve month low of $37.37 and a twelve month high of $55.68. The company has a market cap of $1,860.00, a PE ratio of 21.19 and a beta of 0.65.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Friday, October 27th. The semiconductor producer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $127.20 million during the quarter, compared to analyst estimates of $127.24 million. Silicon Motion Technology had a net margin of 17.18% and a return on equity of 19.58%. The company’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. equities analysts forecast that Silicon Motion Technology Corp. will post 2.31 earnings per share for the current year.

SIMO has been the subject of a number of research analyst reports. Standpoint Research upgraded shares of Silicon Motion Technology from a “reduce” rating to a “buy” rating in a report on Wednesday, August 30th. Needham & Company LLC reiterated a “buy” rating and set a $57.00 price objective on shares of Silicon Motion Technology in a report on Friday, October 27th. ValuEngine lowered shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. BidaskClub upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Finally, Summit Redstone upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.85.

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About Silicon Motion Technology

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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