Skylands Capital LLC Increases Stake in Silicon Motion Technology Corporation $SIMO

Key Points

• Skylands Capital LLC increased its stake in Silicon Motion (NASDAQ:SIMO) by 37.9% in Q4, adding 14,625 shares for a total of 53,219 shares worth about $4.93 million.
• Institutional ownership is high at 78.02%, with other notable moves including UBS boosting its stake 39% to 351,541 shares (~$32.6M) and OCBC establishing a new ~$7.0M position.
• Analysts are largely bullish—11 buys and 1 hold with an average price target of $132.50—while SIMO trades near $147.54, close to its 52-week high of $155.73 and a market cap of about $5.01B.

Skylands Capital LLC raised its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 37.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,219 shares of the semiconductor producer's stock after purchasing an additional 14,625 shares during the quarter. Skylands Capital LLC owned approximately 0.16% of Silicon Motion Technology worth $4,933,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SIMO. Vest Financial LLC bought a new stake in shares of Silicon Motion Technology in the fourth quarter valued at approximately $241,000. UBS Group AG boosted its holdings in Silicon Motion Technology by 39.0% in the 4th quarter. UBS Group AG now owns 351,541 shares of the semiconductor producer's stock worth $32,588,000 after buying an additional 98,548 shares during the period. Sanctuary Advisors LLC boosted its holdings in Silicon Motion Technology by 4.0% in the 4th quarter. Sanctuary Advisors LLC now owns 4,331 shares of the semiconductor producer's stock worth $401,000 after buying an additional 167 shares during the period. Quent Capital LLC bought a new stake in Silicon Motion Technology during the 4th quarter valued at $278,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Silicon Motion Technology during the fourth quarter worth $7,014,000. Institutional investors own 78.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SIMO. B. Riley Financial reaffirmed a "buy" rating on shares of Silicon Motion Technology in a report on Thursday, February 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of Silicon Motion Technology in a report on Friday, March 27th. Needham & Company LLC raised their target price on Silicon Motion Technology from $125.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Roth Mkm set a $140.00 target price on Silicon Motion Technology and gave the company a "buy" rating in a report on Wednesday, February 4th. Finally, Zacks Research downgraded shares of Silicon Motion Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Silicon Motion Technology has an average rating of "Moderate Buy" and an average price target of $132.50.

Silicon Motion Technology Stock Performance

Shares of SIMO stock opened at $147.54 on Tuesday. Silicon Motion Technology Corporation has a 52-week low of $43.57 and a 52-week high of $155.73. The company has a market capitalization of $5.01 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 1.03 and a beta of 1.09. The business's fifty day moving average is $126.88 and its 200 day moving average is $109.91.

Silicon Motion Technology 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.

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