Shares of Silicon Motion Technology CO (Nasdaq: Simo) purchased by First Trust Advisors LP

First Trust Advisors LP increased its position in Silicon Motion Technology Co. (Nasdaq: Simo – Free Report) with 62.6% in the fourth quarter, reports HoldingsChannel.com. The institutional investor owned 62,117 shares of the semiconductor manufacturer after earning a 23,921 additional shares during this period. The properties of the First Trust Advisors LP in Silicon Motion Technology were worth $ 3,357,000 at the end of the latest quarter.

Some other institutional investors and protective funds have also modified their company possessions. Gamma Investing LLC raised its properties in silicon movement technology by 123.2% in the 4th trimester. Gamma Investing LLC now owns 877 shares of the semiconductor manufacturer worth $ 47,000 after earning an additional 484 shares over the last quarter. Blue Trust Inc. increased its shares in silicone movement technology by 64.7% in the fourth quarter. Blue Trust Inc. It now owns 2,248 shares of the semiconductor manufacturer worth $ 122,000 after buying an additional 883 shares over the last quarter. Financial LLC bought a new position at Silicon Motion Technology during the fourth quarter worth about $ 208,000. Choreo LLC won a new action at Silicon Motion Technology in the 4th quarter worth about $ 209,000. Finally, the Quadrant Capital Group LLC increased its possessions in silicone movement technology by 7.2% in the 4th trimester. The Quadrant Capital Group LLC now owns 3,959 stock shares of the semiconductor manufacturer worth $ 214,000 after buying an additional 267 shares during this period. Protective funds and other institutional investors own 78.02% of the company’s shares.

Wall Street analysts predict growth

Simo has been the topic of some recent analyst reports. The American Bank updated Silicon Motion Technology shares from a “subform” rating to a “neutral” rating and set a $ 47.00 price target in shares in a report Wednesday, April 23. Needham & Company LLC lowered their price target in the shares of Silicon Motion Technology from $ 70.00 to $ 65.00 and set a “Buy” rating in shares in a report Wednesday. Wedbush repeated a “best” rating and set a $ 90.00 price target for Silicon Motion Technology shares in a report Wednesday. B. Riley raised their target price in Silicon movement technology from $ 70.00 to $ 75.00 and gave the company a “Buy” rating in a report on Thursday. Finally, Stocknews.com reduces the Silicon movement technology from a “Buy” rating on a “holder” rating on a research note on Thursday, February 13th. Two analysts have evaluated shares with a holding assessment and seven have assigned an assessment of the purchase in stock. According to Marketbeat.com, Silicon Motion Technology currently has an average estimate of “Buy Moderal” and a $ 75.88 consensus price.

Read our latest analysis of silicon movement technology

Silicon Movement Technology Trading Up 6.3 %

Nasdaq Simo’s shares opened with $ 53.51 on Friday. The shares have an average price of fifty days of $ 48.31 and an average price of 200 days of $ 52.54. Silicon Motion Technology CO has a $ 12-month low of $ 37.21 and a 12-month height of $ 85.87. The company has a market cap of $ 1.80 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.36 and a beta of 0.81.

Silicon Motion Technology (Nasdaq: Simo – Get FREE report) posted for the last time the results of her profits on Tuesday, April 29. The semiconductor manufacturer reported $ 0.60 for share profits (EPS) for the quarter, beating the analysts’ consensus estimates of $ 0.44 by $ 0.16. The business had an income of $ 166.49 million during the quarter, compared to the estimates of analysts of $ 162.69 million. Silicon movement technology had a capital return of 11.63% and a net difference of 11.29%. The company’s income for the quarter decreased 12.1% compared to the same quarter of last year. During the same quarter of last year, the firm won $ 0.64 profits per share. On average, analysts in the sales side predict that Silicon Motion Technology CO will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology stated that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5, allowing the company to repair $ 50.00 million in stock. This repurchase authorization allows the manufacturer of the reprint to 2.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that company management believes its shares are underestimated.

Profile of Silicon Movement Technology Company

(Free report)

Silicon Motion Technology Corporation, along with its subsidiaries, models, develops and markets Nand Flash Controllers for rigid storage equipment. The company offers controllers for solid information state drives (SSD), which are used in PCs and other customer equipment; SSDs of enterprise scale used in databases; EMMC and UFS Storage Mobile Embedded Storage for use on smartphones and iot devices; Flash memory cards and flash drives to be used in expandable storage; and specialized SSDs used in industrial, commercial and automobile applications.

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Want to see which other protective funds are they holding Simo? Visit HoldingsChannel.com to get the latest 13F recordings and internal trade for Silicon Motion Technology Co. (Nasdaq: Simo – Free Report).

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