Wolf Hill Capital Management LP Makes New Investment in Silicon Motion Technology Corporation $SIMO

Wolf Hill Capital Management LP acquired a new position in Silicon Motion Technology Corporation (NASDAQ:SIMO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 581,370 shares of the semiconductor producer’s stock, valued at approximately $53,893,000. Silicon Motion Technology makes up approximately 6.0% of Wolf Hill Capital Management LP’s holdings, making the stock its 6th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Silicon Motion Technology in the 3rd quarter worth $26,000. WealthCollab LLC grew its stake in shares of Silicon Motion Technology by 77.4% in the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after buying an additional 151 shares in the last quarter. Arax Advisory Partners grew its stake in shares of Silicon Motion Technology by 220.9% in the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock worth $41,000 after buying an additional 307 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Silicon Motion Technology by 169.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after buying an additional 366 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of Silicon Motion Technology in the 4th quarter worth $71,000. 78.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Craig Hallum reaffirmed a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a research note on Thursday, April 30th. Wedbush lifted their price target on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Susquehanna lifted their price target on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a research note on Thursday, April 30th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $205.63.

Silicon Motion Technology Stock Performance

SIMO stock opened at $280.49 on Monday. Silicon Motion Technology Corporation has a 12 month low of $66.07 and a 12 month high of $314.34. The company has a 50-day moving average price of $214.29 and a 200 day moving average price of $147.84. The stock has a market cap of $9.51 billion, a PE ratio of 55.76, a P/E/G ratio of 0.68 and a beta of 1.72.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, beating 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 company had revenue of $342.11 million during the quarter, compared to analyst estimates of $299.53 million. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue for the quarter was up 105.5% on a year-over-year basis. Sell-side analysts forecast that Silicon Motion Technology Corporation will post 7.65 EPS for the current year.

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.