Freestone Capital Holdings LLC Increases Position in Silicon Motion Technology Corp. (SIMO)

Freestone Capital Holdings LLC lifted its position in Silicon Motion Technology Corp. (NASDAQ:SIMO) by 8.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,170 shares of the semiconductor producer’s stock after purchasing an additional 8,775 shares during the period. Freestone Capital Holdings LLC’s holdings in Silicon Motion Technology were worth $5,301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SIMO. SG Americas Securities LLC boosted its holdings in shares of Silicon Motion Technology by 14.1% in the fourth quarter. SG Americas Securities LLC now owns 11,234 shares of the semiconductor producer’s stock valued at $595,000 after purchasing an additional 1,390 shares during the period. California Public Employees Retirement System raised its stake in Silicon Motion Technology by 3.6% in the fourth quarter. California Public Employees Retirement System now owns 71,590 shares of the semiconductor producer’s stock worth $3,791,000 after buying an additional 2,487 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Silicon Motion Technology by 24.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 302,627 shares of the semiconductor producer’s stock worth $16,027,000 after buying an additional 59,647 shares in the last quarter. Systematic Financial Management LP raised its stake in Silicon Motion Technology by 3.9% in the fourth quarter. Systematic Financial Management LP now owns 309,271 shares of the semiconductor producer’s stock worth $16,379,000 after buying an additional 11,653 shares in the last quarter. Finally, State of Tennessee Treasury Department bought a new position in Silicon Motion Technology in the fourth quarter worth approximately $6,885,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Silicon Motion Technology in a research note on Wednesday, March 28th. They issued a “buy” rating and a $60.00 price objective for the company. BidaskClub raised shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 29th. Cowen assumed coverage on shares of Silicon Motion Technology in a research note on Tuesday, May 22nd. They issued a “market perform” rating and a $53.00 price objective for the company. Zacks Investment Research raised shares of Silicon Motion Technology from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Finally, Needham & Company LLC raised shares of Silicon Motion Technology to a “buy” rating and set a $57.00 price objective for the company in a research note on Friday, April 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. Silicon Motion Technology presently has a consensus rating of “Buy” and a consensus target price of $56.55.

Shares of Silicon Motion Technology opened at $49.73 on Thursday, Marketbeat.com reports. The firm has a market cap of $1.76 billion, a PE ratio of 23.79 and a beta of 0.64. Silicon Motion Technology Corp. has a 12-month low of $40.33 and a 12-month high of $56.51.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Thursday, April 26th. The semiconductor producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $130.34 million for the quarter, compared to the consensus estimate of $129.28 million. Silicon Motion Technology had a return on equity of 14.82% and a net margin of 14.17%. equities research analysts anticipate that Silicon Motion Technology Corp. will post 2.97 EPS for the current year.

Silicon Motion Technology Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile storage and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded MultiMediaCard (eMMC), client solid-state drive (SSD), flash memory card, and Universal Serial Bus flash drive controllers.

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Institutional Ownership by Quarter for Silicon Motion Technology (NASDAQ:SIMO)

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