Teachers Advisors LLC Boosts Position in Silicon Motion Technology Corporation (SIMO)

Teachers Advisors LLC increased its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 27.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 787,674 shares of the semiconductor producer’s stock after acquiring an additional 171,989 shares during the period. Teachers Advisors LLC owned approximately 2.22% of Silicon Motion Technology Corporation worth $37,990,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Silicon Motion Technology Corporation by 8.5% during the first quarter. Wellington Management Group LLP now owns 2,489,838 shares of the semiconductor producer’s stock worth $116,400,000 after acquiring an additional 194,518 shares in the last quarter. ARGA Investment Management LP boosted its stake in Silicon Motion Technology Corporation by 46.1% during the second quarter. ARGA Investment Management LP now owns 1,732,879 shares of the semiconductor producer’s stock worth $83,577,000 after acquiring an additional 546,487 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Silicon Motion Technology Corporation by 10.1% during the first quarter. Lazard Asset Management LLC now owns 1,639,575 shares of the semiconductor producer’s stock worth $76,650,000 after acquiring an additional 150,619 shares in the last quarter. Investec Asset Management LTD boosted its stake in Silicon Motion Technology Corporation by 5.8% during the first quarter. Investec Asset Management LTD now owns 1,119,187 shares of the semiconductor producer’s stock worth $52,322,000 after acquiring an additional 61,201 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Silicon Motion Technology Corporation by 170.4% during the second quarter. William Blair Investment Management LLC now owns 947,862 shares of the semiconductor producer’s stock worth $45,715,000 after acquiring an additional 597,352 shares in the last quarter. 81.15% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Corporation (NASDAQ:SIMO) opened at 45.98 on Tuesday. Silicon Motion Technology Corporation has a 52 week low of $37.37 and a 52 week high of $55.68. The company has a market cap of $1.64 billion, a P/E ratio of 15.54 and a beta of 0.67. The stock has a 50 day moving average of $44.15 and a 200 day moving average of $46.58.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last issued its quarterly earnings data on Monday, July 31st. The semiconductor producer reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). Silicon Motion Technology Corporation had a return on equity of 24.24% and a net margin of 18.91%. The firm had revenue of $132.70 million during the quarter, compared to analysts’ expectations of $132.92 million. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts expect that Silicon Motion Technology Corporation will post $2.67 earnings per share for the current year.

Silicon Motion Technology Corporation announced that its board has approved a share repurchase program on Monday, July 31st that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the semiconductor producer to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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Several equities research analysts recently commented on SIMO shares. Standpoint Research lowered shares of Silicon Motion Technology Corporation from a “buy” rating to a “reduce” rating in a research note on Tuesday, June 6th. Loop Capital reissued a “buy” rating and set a $61.00 price objective (up previously from $53.00) on shares of Silicon Motion Technology Corporation in a research note on Tuesday, June 6th. ValuEngine lowered shares of Silicon Motion Technology Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Pacific Crest reissued an “overweight” rating and set a $62.00 price objective on shares of Silicon Motion Technology Corporation in a research note on Wednesday, June 21st. Finally, Zacks Investment Research lowered shares of Silicon Motion Technology Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $56.63.

About Silicon Motion Technology Corporation

Silicon Motion Technology Corporation 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. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

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

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