Massachusetts Financial Services Co. MA Has $19.16 Million Stock Position in Silicon Motion Technology Corporation $SIMO

Key Points

• Massachusetts Financial Services cut its stake in Silicon Motion by 64.8% in Q4, selling 379,939 shares and leaving it with 206,716 shares worth about $19.16 million (0.61% of the company).
• Analysts are broadly bullish: 11 firms rate SIMO a Buy and one a Hold, with a consensus price target of $132.50 and several recent target increases (up to $160) and Buy reiterations.
• SIMO is trading around $137 with a market cap of about $4.66 billion, a P/E of 37.64, and a 52-week range of $37.82–$146.85, indicating a significant price run-up.

Massachusetts Financial Services Co. MA trimmed its stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 64.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,716 shares of the semiconductor producer's stock after selling 379,939 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.61% of Silicon Motion Technology worth $19,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC boosted its holdings in Silicon Motion Technology by 2.3% during the third quarter. Penn Capital Management Company LLC now owns 5,821 shares of the semiconductor producer's stock valued at $552,000 after purchasing an additional 132 shares in the last quarter. Hardy Reed LLC boosted its holdings in shares of Silicon Motion Technology by 3.3% in the 3rd quarter. Hardy Reed LLC now owns 4,956 shares of the semiconductor producer's stock worth $470,000 after acquiring an additional 159 shares in the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of Silicon Motion Technology by 0.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 17,733 shares of the semiconductor producer's stock worth $1,333,000 after acquiring an additional 159 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Silicon Motion Technology by 1.8% in the 3rd quarter. US Bancorp DE now owns 12,532 shares of the semiconductor producer's stock worth $1,188,000 after acquiring an additional 226 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Silicon Motion Technology by 23.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,203 shares of the semiconductor producer's stock worth $114,000 after acquiring an additional 227 shares in the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. B. Riley Financial reissued a "buy" rating on shares of Silicon Motion Technology in a report on Thursday, February 5th. Craig Hallum reissued a "buy" rating and issued a $160.00 target price on shares of Silicon Motion Technology in a report on Thursday, February 5th. Wall Street Zen raised Silicon Motion Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 11th. Needham & Company LLC boosted their target price on Silicon Motion Technology from $125.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. Finally, Roth Mkm set a $140.00 target price on Silicon Motion Technology and gave the stock a "buy" rating in a report on Wednesday, February 4th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $132.50.

Silicon Motion Technology Price Performance

SIMO stock opened at $137.00 on Friday. The company has a 50 day moving average price of $125.72 and a 200 day moving average price of $107.43. Silicon Motion Technology Corporation has a fifty-two week low of $37.82 and a fifty-two week high of $146.85. The stock has a market capitalization of $4.66 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09.

About Silicon Motion Technology

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.

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