As Silicon Motion Technology Co (SIMO) Valuation Declined, Sloane Robinson Llp Has Upped Holding by $19.86 Million

May 26, 2018 - By Stephen Andrade

Silicon Motion Technology Corporation (NASDAQ:SIMO) Logo

Hugh Sloane increased its stake in Silicon Motion Technology Co (SIMO) by 64.94% based on its latest 2017Q4 regulatory filing with the SEC. Sloane Robinson Llp bought 381,900 shares as the company’s stock declined 8.05% with the market. The hedge fund run by Hugh Sloane held 970,000 shares of the semiconductors company at the end of 2017Q4, valued at $51.37M, up from 588,100 at the end of the previous reported quarter. Sloane Robinson Llp who had been investing in Silicon Motion Technology Co for a number of months, seems to be bullish on the $1.77B market cap company. The stock increased 0.27% or $0.13 during the last trading session, reaching $48.98. About 89,991 shares traded. Silicon Motion Technology Corporation (NASDAQ:SIMO) has risen 8.09% since May 26, 2017 and is uptrending. It has underperformed by 3.46% the S&P500.

Sloane Robinson Llp, which manages about $250.17 million US Long portfolio, decreased its stake in Taiwan Semiconductor Mfg Ltd (NYSE:TSM) by 119,400 shares to 61,800 shares, valued at $2.45M in 2017Q4, according to the filing.

More recent Silicon Motion Technology Corporation (NASDAQ:SIMO) news were published by: Seekingalpha.com which released: “Silicon Motion: Bias Toward The High Side” on April 30, 2018. Also Seekingalpha.com published the news titled: “Headwinds Turn Into Tailwinds At Silicon Motion” on May 17, 2018. Streetinsider.com‘s news article titled: “UPDATE: Cowen Starts Silicon Motion Technology (SIMO) at Market Perform” with publication date: May 22, 2018 was also an interesting one.

Silicon Motion Technology Corporation (NASDAQ:SIMO) Ratings Coverage

Among 8 analysts covering Silicon Motion Technology (NASDAQ:SIMO), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. Silicon Motion Technology has $68.75 highest and $44.0 lowest target. $56.68’s average target is 15.72% above currents $48.98 stock price. Silicon Motion Technology had 11 analyst reports since December 7, 2017 according to SRatingsIntel. Cowen & Co initiated Silicon Motion Technology Corporation (NASDAQ:SIMO) rating on Tuesday, May 22. Cowen & Co has “Hold” rating and $5300 target. The firm has “Hold” rating by Susquehanna given on Wednesday, February 7. The rating was maintained by KeyBanc Capital Markets on Thursday, December 14 with “Buy”. The stock has “Buy” rating by KeyBanc Capital Markets on Wednesday, February 7. The company was upgraded on Friday, April 27 by Needham. On Thursday, February 8 the stock rating was maintained by Needham with “Buy”. The stock has “Buy” rating by J.P. Morgan on Wednesday, March 28. The stock of Silicon Motion Technology Corporation (NASDAQ:SIMO) earned “Neutral” rating by Susquehanna on Tuesday, January 16. The stock of Silicon Motion Technology Corporation (NASDAQ:SIMO) has “Buy” rating given on Thursday, December 7 by Summit Redstone Partners. The rating was maintained by Craig Hallum on Friday, January 19 with “Buy”.

Silicon Motion Technology Corporation (NASDAQ:SIMO) Ratings Chart

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