Silicon Motion Technology Corporation $SIMO Stock Holdings Trimmed by Heartland Advisors Inc.

Heartland Advisors Inc. lessened its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 11.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 355,770 shares of the semiconductor producer’s stock after selling 45,962 shares during the quarter. Silicon Motion Technology comprises approximately 1.8% of Heartland Advisors Inc.’s holdings, making the stock its 2nd biggest holding. Heartland Advisors Inc.’s holdings in Silicon Motion Technology were worth $33,731,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada grew its position in Silicon Motion Technology by 87.6% during the first quarter. Royal Bank of Canada now owns 69,660 shares of the semiconductor producer’s stock valued at $3,522,000 after acquiring an additional 32,527 shares during the period. Goldman Sachs Group Inc. lifted its position in Silicon Motion Technology by 155.0% during the first quarter. Goldman Sachs Group Inc. now owns 73,988 shares of the semiconductor producer’s stock valued at $3,741,000 after buying an additional 44,976 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Silicon Motion Technology by 44.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,288 shares of the semiconductor producer’s stock worth $473,000 after buying an additional 1,929 shares during the period. West Tower Group LLC acquired a new stake in shares of Silicon Motion Technology in the second quarter worth $925,000. Finally, Schwartz Investment Counsel Inc. raised its stake in shares of Silicon Motion Technology by 15.8% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 220,000 shares of the semiconductor producer’s stock valued at $16,537,000 after acquiring an additional 30,000 shares during the period. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Price Performance

NASDAQ SIMO opened at $136.28 on Tuesday. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 0.93 and a beta of 1.06. Silicon Motion Technology Corporation has a 12 month low of $37.21 and a 12 month high of $144.68. The company’s fifty day moving average price is $108.34 and its two-hundred day moving average price is $94.94.

Wall Street Analyst Weigh In

SIMO has been the subject of a number of recent research reports. William Blair assumed coverage on Silicon Motion Technology in a research note on Thursday, January 22nd. They issued an “outperform” rating for the company. Wall Street Zen raised shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Research upgraded shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. Wedbush raised their price target on shares of Silicon Motion Technology from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Susquehanna boosted their price objective on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $132.50.

About Silicon Motion Technology

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.