Trading Report: The BNP Paribas Arbitrage SA Acquires 4,152 Shares of Silicon Motion Technology Corp. (SIMO)

The BNP Paribas Arbitrage SA Acquires 4,152  Shares of Silicon Motion Technology Corp. (SIMO)

BNP Paribas Arbitrage SA purchased a new stake in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) during the third quarter, Holdings Channel reports. The firm purchased 4,152 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in Silicon Motion Technology Corp. by 98.2% in the first quarter. Wellington Management Group LLP now owns 3,029,892 shares of the company’s stock valued at $117,591,000 after buying an additional 1,501,544 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Silicon Motion Technology Corp. by 96.3% in the first quarter. JPMorgan Chase & Co. now owns 1,807,182 shares of the company’s stock valued at $70,135,000 after buying an additional 886,458 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Silicon Motion Technology Corp. by 365.4% in the second quarter. Lord Abbett & CO. LLC now owns 1,049,179 shares of the company’s stock valued at $50,151,000 after buying an additional 823,750 shares during the last quarter. Lazard Asset Management LLC raised its stake in Silicon Motion Technology Corp. by 39.5% in the first quarter. Lazard Asset Management LLC now owns 2,481,612 shares of the company’s stock valued at $96,311,000 after buying an additional 703,150 shares during the last quarter. Finally, Westpac Banking Corp raised its stake in Silicon Motion Technology Corp. by 437.8% in the second quarter. Westpac Banking Corp now owns 298,455 shares of the company’s stock valued at $14,266,000 after buying an additional 242,963 shares during the last quarter. 68.14% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Corp. (NASDAQ:SIMO) traded up 2.20% on Wednesday, hitting $51.93. The stock had a trading volume of 99,253 shares. Silicon Motion Technology Corp. has a 12 month low of $27.35 and a 12 month high of $56.25. The company has a market cap of $1.83 billion, a PE ratio of 23.13 and a beta of 1.30. The company has a 50-day moving average of $51.66 and a 200 day moving average of $46.56.

Silicon Motion Technology Corp. (NASDAQ:SIMO) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.10. Silicon Motion Technology Corp. had a return on equity of 22.62% and a net margin of 18.29%. On average, analysts predict that Silicon Motion Technology Corp. will post $3.25 EPS for the current fiscal year.

SIMO has been the subject of several research reports. Roth Capital began coverage on shares of Silicon Motion Technology Corp. in a research report on Wednesday, September 28th. They set a “buy” rating and a $60.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Silicon Motion Technology Corp. in a report on Wednesday, September 7th. Susquehanna reissued a “positive” rating and issued a $56.00 target price (up from $48.00) on shares of Silicon Motion Technology Corp. in a report on Wednesday, July 6th. Brean Capital reissued a “buy” rating on shares of Silicon Motion Technology Corp. in a report on Monday, July 18th. Finally, Zacks Investment Research raised shares of Silicon Motion Technology Corp. from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, June 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $53.12.

Silicon Motion Technology Corp. Company Profile

Silicon Motion Technology Corporation (SMTC) is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. For the mobile storage market, the Company’s products are microcontrollers used in solid state storage devices, such as Solid State Drives (SSDs), Embedded Multimedia Cards (eMMCs) and other embedded flash applications, as well as removable storage products.

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