Tower Research Capital LLC TRC Acquires 3,296 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Tower Research Capital LLC TRC increased its stake in Silicon Motion Technology Co. (NASDAQ:SIMO – Get Rating) by 2,497.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,428 shares of the semiconductor producer’s stock after acquiring an additional 3,296 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Silicon Motion Technology were worth $224,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SIMO. UBS Group AG boosted its position in shares of Silicon Motion Technology by 51.5% during the 3rd quarter. UBS Group AG now owns 169,308 shares of the semiconductor producer’s stock worth $11,037,000 after purchasing an additional 57,555 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Silicon Motion Technology by 54.0% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 716,918 shares of the semiconductor producer’s stock valued at $46,736,000 after purchasing an additional 251,280 shares in the last quarter. Cullen Capital Management LLC raised its holdings in Silicon Motion Technology by 157.6% during the third quarter. Cullen Capital Management LLC now owns 40,482 shares of the semiconductor producer’s stock worth $2,639,000 after buying an additional 24,766 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Silicon Motion Technology in the third quarter valued at $116,000. Finally, Easterly Investment Partners LLC increased its position in shares of Silicon Motion Technology by 4.1% during the third quarter. Easterly Investment Partners LLC now owns 104,808 shares of the semiconductor producer’s stock worth $6,832,000 after acquiring an additional 4,170 shares in the last quarter. Institutional investors and hedge funds own 66.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC lifted their price target on Silicon Motion Technology from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and an average price target of $103.60.

Silicon Motion Technology Trading Down 0.7 %

Shares of SIMO opened at $66.97 on Monday. The stock has a 50 day moving average of $66.01 and a 200 day moving average of $65.52. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 4.53 and a beta of 0.91. Silicon Motion Technology Co. has a 12 month low of $51.82 and a 12 month high of $98.65.

Silicon Motion Technology (NASDAQ:SIMO – Get Rating) last posted its quarterly earnings results on Tuesday, February 7th. The semiconductor producer reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.16). The company had revenue of $200.76 million for the quarter, compared to the consensus estimate of $256.71 million. Silicon Motion Technology had a net margin of 18.24% and a return on equity of 25.65%. Silicon Motion Technology’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS. As a group, equities research analysts predict that Silicon Motion Technology Co. will post 2.96 earnings per share for the current year.

Silicon Motion Technology Company Profile

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Silicon Motion Technology Corp. engages in the development, manufacture and supply of semiconductor products for the electronics market. The firm products include Flash Controllers, Storage Solutions, and others. It offers embedded and expandable storage, radio frequency integrated circuits and embedded graphics.