UBS Group AG Has $32.59 Million Stock Holdings in Silicon Motion Technology Corporation $SIMO

Key Points

• UBS Group AG increased its Silicon Motion Technology stake by 39% in the fourth quarter, ending with 351,541 shares valued at about $32.6 million.
• Silicon Motion’s latest quarterly results beat expectations, with EPS of $1.58 versus $1.31 expected and revenue of $342.1 million, up 105.5% year over year.
• Analysts remain broadly positive on the stock, with several raising price targets and the consensus rating sitting at Buy with an average target price of $205.63.

UBS Group AG grew its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 39.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 351,541 shares of the semiconductor producer's stock after buying an additional 98,548 shares during the quarter. UBS Group AG owned 1.03% of Silicon Motion Technology worth $32,588,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SIMO. Brown Brothers Harriman & Co. acquired a new stake in shares of Silicon Motion Technology during the 3rd quarter worth about $26,000. WealthCollab LLC increased its position in shares of Silicon Motion Technology by 77.4% during the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer's stock worth $32,000 after purchasing an additional 151 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Silicon Motion Technology by 169.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer's stock worth $44,000 after purchasing an additional 366 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Silicon Motion Technology during the 4th quarter worth about $71,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Silicon Motion Technology during the 2nd quarter worth about $75,000. Institutional investors and hedge funds own 78.02% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Craig Hallum reiterated a "buy" rating and set a $250.00 target price on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Susquehanna increased their target price on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the stock a "positive" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased their target price on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Zacks Research upgraded shares of Silicon Motion Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Finally, Weiss Ratings cut shares of Silicon Motion Technology from a "buy (b-)" rating to a "hold (c)" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $205.63.

Silicon Motion Technology Stock Up 4.5%

Shares of NASDAQ:SIMO opened at $253.59 on Friday. Silicon Motion Technology Corporation has a 12 month low of $52.10 and a 12 month high of $254.84. The company's 50-day moving average price is $137.05 and its two-hundred day moving average price is $115.31. The firm has a market cap of $8.62 billion, a P/E ratio of 50.42, a P/E/G ratio of 0.75 and a beta of 1.67.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The firm had revenue of $342.11 million for the quarter, compared to analyst estimates of $299.53 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The company's revenue was up 105.5% on a year-over-year basis. As a group, equities analysts predict that Silicon Motion Technology Corporation will post 7.77 earnings per share for the current fiscal year.

Silicon Motion Technology Company 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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