Avior Wealth Management LLC Takes Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Avior Wealth Management LLC purchased a new stake in Silicon Motion Technology Co. (NASDAQ:SIMO) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,904 shares of the semiconductor producer’s stock, valued at approximately $178,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Silicon Motion Technology by 127.3% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 60,909 shares of the semiconductor producer’s stock valued at $3,122,000 after acquiring an additional 34,111 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Silicon Motion Technology in the third quarter valued at about $837,000. Canada Pension Plan Investment Board acquired a new stake in shares of Silicon Motion Technology in the third quarter valued at about $636,000. Invesco Ltd. acquired a new stake in shares of Silicon Motion Technology in the third quarter valued at about $32,024,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Silicon Motion Technology in the third quarter valued at about $15,512,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Trading Down 2.0 %

Silicon Motion Technology stock opened at $71.84 on Friday. Silicon Motion Technology Co. has a 12 month low of $49.50 and a 12 month high of $95.33. The stock’s 50 day moving average is $73.66 and its 200-day moving average is $64.38. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 45.47, a PEG ratio of 3.95 and a beta of 0.85.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.51 by $0.12. Silicon Motion Technology had a return on equity of 7.01% and a net margin of 8.27%. The company had revenue of $202.38 million for the quarter, compared to the consensus estimate of $197.60 million. As a group, equities research analysts predict that Silicon Motion Technology Co. will post 2.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on SIMO shares. B. Riley lifted their target price on Silicon Motion Technology from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Wedbush reissued an “outperform” rating and set a $85.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price target on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Craig Hallum boosted their price target on Silicon Motion Technology from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Needham & Company LLC boosted their price target on Silicon Motion Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $87.57.

Silicon Motion Technology Company 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.