Robeco Institutional Asset Management B.V. Raises Position in Silicon Motion Technology Corporation $SIMO

Robeco Institutional Asset Management B.V. increased its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 40.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 623,953 shares of the semiconductor producer’s stock after buying an additional 181,206 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Silicon Motion Technology were worth $57,840,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SIMO. Royal Bank of Canada increased its stake in Silicon Motion Technology by 87.6% in 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 last quarter. Goldman Sachs Group Inc. increased its stake in Silicon Motion Technology by 155.0% in the first quarter. Goldman Sachs Group Inc. now owns 73,988 shares of the semiconductor producer’s stock valued at $3,741,000 after acquiring an additional 44,976 shares during the last quarter. Geode Capital Management LLC increased its stake in Silicon Motion Technology by 2.6% in the second quarter. Geode Capital Management LLC now owns 37,806 shares of the semiconductor producer’s stock valued at $2,842,000 after acquiring an additional 962 shares during the last quarter. Creative Planning bought a new position in Silicon Motion Technology in the second quarter valued at $324,000. Finally, Legal & General Group Plc increased its stake in Silicon Motion Technology by 141.4% in the second quarter. Legal & General Group Plc now owns 9,738 shares of the semiconductor producer’s stock valued at $732,000 after acquiring an additional 5,704 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SIMO. Wedbush increased their target price on Silicon Motion Technology from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Needham & Company LLC increased their target price on Silicon Motion Technology from $125.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. William Blair began coverage on Silicon Motion Technology in a research note on Thursday, January 22nd. They issued an “outperform” rating on the stock. Roth Mkm set a $140.00 target price on Silicon Motion Technology and gave the company a “buy” rating in a research note on Wednesday, February 4th. Finally, B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, February 5th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Silicon Motion Technology Trading Down 0.6%

Shares of NASDAQ:SIMO opened at $126.00 on Tuesday. The stock’s 50-day moving average price is $125.10 and its 200-day moving average price is $106.72. Silicon Motion Technology Corporation has a 12-month low of $37.82 and a 12-month high of $146.85. The stock has a market capitalization of $4.28 billion, a P/E ratio of 34.62, a price-to-earnings-growth ratio of 0.85 and a beta of 1.09.

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.