Silicon Motion Technology Corp. (NASDAQ:SIMO) Shares Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC increased its position in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 375,342 shares of the semiconductor producer’s stock after acquiring an additional 12,079 shares during the period. Peregrine Capital Management LLC owned approximately 1.04% of Silicon Motion Technology worth $13,268,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Silicon Motion Technology by 26.0% during the second quarter. JPMorgan Chase & Co. now owns 2,019,672 shares of the semiconductor producer’s stock worth $85,696,000 after acquiring an additional 416,234 shares during the period. Investec Asset Management LTD boosted its position in shares of Silicon Motion Technology by 0.7% in the 2nd quarter. Investec Asset Management LTD now owns 1,674,941 shares of the semiconductor producer’s stock valued at $74,334,000 after purchasing an additional 11,364 shares during the period. ARGA Investment Management LP boosted its position in shares of Silicon Motion Technology by 15.5% in the 2nd quarter. ARGA Investment Management LP now owns 1,560,879 shares of the semiconductor producer’s stock valued at $69,272,000 after purchasing an additional 209,089 shares during the period. Invesco Ltd. boosted its position in shares of Silicon Motion Technology by 315.9% in the 2nd quarter. Invesco Ltd. now owns 1,466,583 shares of the semiconductor producer’s stock valued at $65,086,000 after purchasing an additional 1,113,983 shares during the period. Finally, Cardinal Capital Management LLC CT boosted its position in shares of Silicon Motion Technology by 34.2% in the 2nd quarter. Cardinal Capital Management LLC CT now owns 1,355,850 shares of the semiconductor producer’s stock valued at $60,173,000 after purchasing an additional 345,736 shares during the period. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on SIMO. Needham & Company LLC reiterated a “buy” rating on shares of Silicon Motion Technology in a research report on Friday, August 9th. BidaskClub upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. ValuEngine upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Nomura upgraded Silicon Motion Technology from a “reduce” rating to a “neutral” rating in a research report on Monday, October 7th. Finally, Roth Capital decreased their price target on Silicon Motion Technology from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Silicon Motion Technology presently has a consensus rating of “Buy” and an average price target of $46.44.

Shares of NASDAQ SIMO opened at $38.40 on Thursday. Silicon Motion Technology Corp. has a one year low of $30.86 and a one year high of $47.23. The firm has a market capitalization of $1.38 billion, a PE ratio of 11.26, a PEG ratio of 4.28 and a beta of 1.03. The business has a 50-day moving average price of $34.46 and a two-hundred day moving average price of $38.14.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor producer reported $0.52 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.52. Silicon Motion Technology had a return on equity of 17.76% and a net margin of 17.84%. The firm had revenue of $98.80 million during the quarter, compared to analyst estimates of $97.33 million. During the same period last year, the company posted $0.92 EPS. The business’s quarterly revenue was down 28.5% compared to the same quarter last year. On average, equities research analysts forecast that Silicon Motion Technology Corp. will post 1.79 EPS for the current fiscal year.

About Silicon Motion Technology

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

See Also: Capital Gains Distribution

Institutional Ownership by Quarter for Silicon Motion Technology (NASDAQ:SIMO)

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