Arga Investment Management Lp Increased Silicon Motion Technol (NASDAQ:SIMO) Stake by $12.95 Million

February 14, 2018 - By Vivian Park

Arga Investment Management Lp increased its stake in Silicon Motion Technol (NASDAQ:SIMO) by 13.53% based on its latest 2017Q4 regulatory filing with the SEC. Arga Investment Management Lp bought 248,992 shares as the company’s stock rose 17.92% with the market. The institutional investor held 2.09M shares of the semiconductors company at the end of 2017Q4, valued at $110.62 million, up from 1.84 million at the end of the previous reported quarter. Arga Investment Management Lp who had been investing in Silicon Motion Technol for a number of months, seems to be bullish on the $1.60 billion market cap company. The stock increased 0.04% or $0.02 during the last trading session, reaching $44.69. About 460,557 shares traded. Silicon Motion Technology Corporation (NASDAQ:SIMO) has risen 21.46% since February 14, 2017 and is uptrending. It has outperformed by 4.76% the S&P500.

Arga Investment Management Lp, which manages about $2.25 billion and $898.38 million US Long portfolio, decreased its stake in Melco Resorts & Entert (NASDAQ:MPEL) by 629,594 shares to 1.78 million shares, valued at $51.66 million in 2017Q4, according to the filing.

Arga Investment Management Lp is a Connecticut-based institutional investor with more than $2.25 billion AUM in March, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Arga Investment Management latest Adv, the fund reported to have 16 full and part-time employees. Among which 8 performing investment advisory and research functions. The institutional investor had between 1-10 clients.

Silicon Motion Technology Corporation (NASDAQ:SIMO) Ratings Coverage

Among 18 analysts covering Silicon Motion (NASDAQ:SIMO), 14 have Buy rating, 1 Sell and 3 Hold. Therefore 78% are positive. Silicon Motion has $68.75 highest and $19 lowest target. $51.84’s average target is 16.00% above currents $44.69 stock price. Silicon Motion had 41 analyst reports since July 28, 2015 according to SRatingsIntel. The stock of Silicon Motion Technology Corporation (NASDAQ:SIMO) earned “Buy” rating by Standpoint Research on Tuesday, March 7. Northland Capital maintained the shares of SIMO in report on Friday, July 7 with “Buy” rating. As per Friday, January 20, the company rating was downgraded by Nomura. Needham maintained the shares of SIMO in report on Friday, July 7 with “Buy” rating. Topeka Capital Markets maintained the shares of SIMO in report on Friday, January 29 with “Buy” rating. Susquehanna initiated Silicon Motion Technology Corporation (NASDAQ:SIMO) rating on Tuesday, September 8. Susquehanna has “Positive” rating and $35 target. The firm has “Buy” rating by Craig Hallum given on Wednesday, August 2. The stock of Silicon Motion Technology Corporation (NASDAQ:SIMO) earned “Buy” rating by Summit Redstone Partners on Thursday, December 7. On Thursday, December 14 the stock rating was maintained by KeyBanc Capital Markets with “Buy”. KeyBanc Capital Markets maintained the shares of SIMO in report on Wednesday, September 6 with “Buy” rating.

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile storage and mobile communications markets worldwide. The company has market cap of $1.60 billion. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded MultiMediaCard , client solid-state drive (SSD), flash memory card, and Universal Serial Bus flash drive controllers. It has a 21.49 P/E ratio. The firm also provides specialty storage solutions, such as customized enterprise-grade Peripheral Component Interconnect Express (PCIe) SSDs; and industrial-grade and commercial-grade single-chip SSDs.

More news for Silicon Motion Technology Corporation (NASDAQ:SIMO) were recently published by: Gurufocus.com, which released: “6 Undervalued Stocks Trading Below Peter Lynch Value” on January 31, 2018. Benzinga.com‘s article titled: “3 Factors Prompt Susquehanna Downgrade Of Silicon Motion Technology” and published on January 16, 2018 is yet another important article.

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