Important Short Interest Filing: Is Buying Silicon Motion Technology Corporation (NASDAQ:SIMO), Having Higher Short Interest a Winning Strategy?

November 15, 2016 - By Ellis Scott   ·   0 Comments

Important Short Interest Filing: Is Buying Silicon Motion Technology Corporation (NASDAQ:SIMO), Having Higher Short Interest a Winning Strategy?

The stock of Silicon Motion Technology Corporation (NASDAQ:SIMO) registered an increase of 1.43% in short interest. SIMO’s total short interest was 1.84 million shares in November as published by FINRA. Its up 1.43% from 1.81M shares, reported previously. With 832,000 shares average volume, it will take short sellers 2 days to cover their SIMO’s short positions. The short interest to Silicon Motion Technology Corporation’s float is 6.26%. About 594,199 shares traded hands. Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) has risen 14.87% since April 13, 2016 and is uptrending. It has outperformed by 10.95% the S&P500.

Silicon Motion Technology Corporation is a fabless semiconductor company. The company has a market cap of $1.64 billion. The Firm designs, develops and markets low-power semiconductor solutions to original equipment manufacturers and other clients in the mobile storage and mobile communications markets. It has a 16.69 P/E ratio. 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.

Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) Ratings Coverage

Out of 10 analysts covering Silicon Motion (NASDAQ:SIMO), 8 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 80% are positive. Silicon Motion has been the topic of 12 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Underperform” rating given on Tuesday, August 18 by Bank of America. Brean Capital maintained Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) rating on Wednesday, July 29. Brean Capital has “Buy” rating and $38 price target. On Friday, July 8 the stock rating was maintained by Needham with “Buy”. The stock has “Outperform” rating given by Pacific Crest on Monday, August 17. Standpoint Research upgraded the shares of SIMO in a report on Thursday, January 14 to “Buy” rating. The stock has “Buy” rating given by Topeka Capital Markets on Friday, January 29. The company was maintained on Tuesday, July 28 by Topeka Capital Markets. The stock has “Buy” rating given by Brean Capital on Wednesday, March 23. On Thursday, September 29 the stock rating was initiated by Roth Capital with “Buy”. The firm has “Positive” rating by Susquehanna given on Tuesday, September 8.

SIMO Company Profile

Silicon Motion Technology Corporation, incorporated on January 27, 2005, is a fabless semiconductor company. The Firm designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other clients 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. In the mobile storage market, the Company’s products are controllers used in embedded storage products, such as Solid State Drives (SSDs), and Embedded Multimedia Cards (eMMCs), as well as expandable storage products, such as flash memory cards and universal serial bus (USB) flash drives. For the mobile communications market, the Company’s products are handset transceivers and mobile television (TV) System on Chips (SoCs). The Company’s products are used in consumer devices, such as smartphones, tablets and personal computers (PCs) and for industrial, enterprise, commercial and other applications. The Firm markets its controllers under the SMI brand; its enterprise-grade SSDs under the Shannon Systems brand; its single-chip industrial-grade SSDs under the Ferri SSD and Ferri-eMMC brands, and RF ICs under the FCI brand.

More news for Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) were recently published by: Marketwatch.com, which released: “Silicon Motion Technology Corp. ADR” on December 22, 2009. Quotes.Wsj.com‘s article titled: “DOW JONES, A NEWS CORP COMPANY” and published on February 14, 2011 is yet another important article.

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By Ellis Scott


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