Russell Investments Group Ltd. Lowers Stake in Silicon Motion Technology Co. (NASDAQ:SIMO)

Russell Investments Group Ltd. lowered its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO – Get Rating) by 62.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,274 shares of the semiconductor producer’s stock after selling 52,338 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Silicon Motion Technology worth $2,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SIMO. Mangrove Partners grew its holdings in shares of Silicon Motion Technology by 436.2% during the 3rd quarter. Mangrove Partners now owns 741,160 shares of the semiconductor producer’s stock valued at $48,316,000 after purchasing an additional 602,935 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Silicon Motion Technology by 499.3% during the 3rd quarter. Marshall Wace LLP now owns 382,408 shares of the semiconductor producer’s stock valued at $24,929,000 after purchasing an additional 318,598 shares during the last quarter. Segantii Capital Management Ltd grew its holdings in shares of Silicon Motion Technology by 262.8% during the 4th quarter. Segantii Capital Management Ltd now owns 410,000 shares of the semiconductor producer’s stock valued at $26,646,000 after purchasing an additional 297,000 shares during the last quarter. Sand Grove Capital Management LLP grew its holdings in shares of Silicon Motion Technology by 39.2% during the 3rd quarter. Sand Grove Capital Management LLP now owns 1,002,559 shares of the semiconductor producer’s stock valued at $65,357,000 after purchasing an additional 282,361 shares during the last quarter. Finally, Westchester Capital Management LLC grew its holdings in shares of Silicon Motion Technology by 31.3% during the 3rd quarter. Westchester Capital Management LLC now owns 1,073,218 shares of the semiconductor producer’s stock valued at $69,963,000 after purchasing an additional 256,085 shares during the last quarter. Hedge funds and other institutional investors own 66.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SIMO shares. Susquehanna reduced their target price on shares of Silicon Motion Technology from $108.00 to $106.00 and set a “positive” rating on the stock in a report on Wednesday, April 19th. Wedbush raised their price target on shares of Silicon Motion Technology from $103.00 to $104.00 in a report on Friday. Needham & Company LLC raised their price target on shares of Silicon Motion Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Finally, StockNews.com started coverage on shares of Silicon Motion Technology in a report on Thursday. They issued a “hold” rating on the stock.

Silicon Motion Technology Price Performance

Shares of NASDAQ SIMO opened at $53.51 on Monday. Silicon Motion Technology Co. has a 1 year low of $51.82 and a 1 year high of $93.88. The stock has a market cap of $1.77 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 4.60 and a beta of 0.90. The firm has a 50-day moving average of $62.06 and a 200 day moving average of $63.68.

Silicon Motion Technology Company Profile

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Silicon Motion Technology Corp. engages in the development, manufacture, and supply of semiconductor products for the electronics market. Its products include Flash Controllers, Storage Solutions, and others. It offers embedded and expandable storage, radio frequency integrated circuits and embedded graphics.