5 Most Undervalued Hong Kong Stocks To Buy According To Hedge Funds

3. Silicon Motion Technology Corp. (NASDAQ:SIMO)

Number of Hedge Fund Holders: 34

Silicon Motion Technology Corp. (NASDAQ:SIMO) develops NAND flash controllers for SSDs and other solid state storage devices. Silicon Motion Technology Corp. (NASDAQ:SIMO) has a significant presence in China and Hong Kong.

Out of the 943 hedge funds tracked by Insider Monkey, 34 hedge funds had stakes in Silicon Motion Technology Corp. (NASDAQ:SIMO). The total worth of these stakes was $468 million. The most significant shareholder of Silicon Motion Technology Corp. (NASDAQ:SIMO) was Michel Massoud’s Melqart Asset Management which owned a $64 million stake in the company.

California-based MaxLinear recently announced it will acquire Silicon Motion Technology Corp. (NASDAQ:SIMO) for about $3.8 billion. However, the deal is under review in China as of May 30.