Fintel reports that on August 17, 2023, Wedbush reiterated Silicon Motion Technology Corp. – Coverage of ADRs (Nasdaq: Simo) with to overcome recommendation.

Analyst price forecast suggests 40.82% upside

By August 2, 2023, average one year price target For Silicon Motion Technology Corp – The ADR is 77.41. Forecasts range from a low of $56.56 to a high of $111.30. The average price target shows an upside of 40.82% from its latest reported closing price of 54.97.

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Silicon Motion Technology Corp – The ADR to the Estimated Annual Revenue of 1,033MM, an increase of 44.27%. Estimated Annual Non-GAAP eps is 6.92.

What is Fund Sentiment?

there are 269 ​​Fund or institution reporting status In Silicon Motion Technology Corp. – Addr. This is a decrease of 3 owners or 1.10% from the previous quarter. average portfolio weight of all funds 0.74% devoted to Simo, an increase of 29.01%. Total shares owned by institutions have increased by 3.11% to 23,486K shares in the past three months. Simo / Silicon Motion Technology Corp - ADR Put/Call Ratio put/call ratio The SIMO has a ratio of 0.95, indicating a bullish outlook.

What are the other shareholders doing?

Simo/Silicon Motion Technology Corp. - Shares held by ADR Institutions

Millennium Management The company holds 1,108K shares representing 3.32% ownership. In its prior filing, the firm reported owning 1,136K shares, representing fall short of 2.53%. Firm increased Its portfolio allocation in Simo has increased by 1.91% over the previous quarter.

Beryl Capital Management The company holds 963K shares representing 2.88% ownership.

Dee Shaw The company holds 803K shares representing 2.40% ownership. In its prior filing, the firm reported owning 0K shares, representing a hike of 100.00%.

Mailcart Asset Management The company holds 766K shares representing 2.29% ownership. In its prior filing, the firm reported owning 979K shares, representing fall short Of 27.82%. Firm fell short of Its portfolio allocation in SIMO has increased by 9.69% as compared to the previous quarter.

Healthcare of Ontario Pension Plan Trust Fund The company holds 762K shares representing 2.28% ownership. In its prior filing, the firm reported owning 73K shares, representing a hike of 90.41%. Firm increased Its portfolio allocation in Simo has increased by 816.86% over the previous quarter.

Silicon Motion Technology Background Information
(This description is provided by the company.)

Silicon Motion is the global leader in the supply of NAND flash controllers for solid state storage devices and the merchant leader in the supply of SSD controllers. Silicon Motion has the widest portfolio of controller technologies and our controllers are widely used in storage products such as SSD and EMMC+UFS devices, found in data centers, PCs, smartphones, and commercial and industrial applications. Silicon Motion has shipped more than six billion NAND controllers in the past ten years, more than any other company in the world. The company also provides customized high-performance hyperscale data centers and industrial SSD solutions. Its customers include most NAND flash vendors, storage device module manufacturers and leading OEMs.

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