5 Best Affordable Tech Stocks To Buy Now

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1. Silicon Motion Technology Corporation (NASDAQ:SIMO)

Number of Hedge Fund Investors In Q2 2023: 40

Latest P/E Ratio: 19.37

Silicon Motion Technology Corporation (NASDAQ:SIMO) is a Hong Kong based chip company that sells products for memory and storage devices. The firm is currently battling an American chip company for a multi billion dollar payment after a scrapped acquisition deal.

As Q2 2023 ended, 40 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in Silicon Motion Technology Corporation (NASDAQ:SIMO). Out of these, the company’s biggest stakeholder is Israel Englander’s Millennium Management due to its $96.1 million stake.

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Disclosure: None.  You can also take a look at 10 Stocks That Could 10X Over the Next 10 Years and Dow 30 Stocks List: Ranked By Hedge Fund Bullishness Index.

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