Neumeier Poma Investment Counsel LLC increased its stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO – Free Report) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 481,818 shares of the semiconductor producer’s stock after purchasing an additional 3,355 shares during the quarter. Silicon Motion Technology accounts for approximately 3.7% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its 5th biggest position. Neumeier Poma Investment Counsel LLC’s holdings in Silicon Motion Technology were worth $44,665,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its position in Silicon Motion Technology by 40.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 623,953 shares of the semiconductor producer’s stock worth $57,840,000 after acquiring an additional 181,206 shares in the last quarter. Hawk Ridge Capital Management LP raised its position in Silicon Motion Technology by 71.8% in the third quarter. Hawk Ridge Capital Management LP now owns 372,747 shares of the semiconductor producer’s stock worth $35,340,000 after acquiring an additional 155,817 shares in the last quarter. Lazard Asset Management LLC raised its position in Silicon Motion Technology by 19.8% in the second quarter. Lazard Asset Management LLC now owns 765,922 shares of the semiconductor producer’s stock worth $57,573,000 after acquiring an additional 126,566 shares in the last quarter. UBS Group AG raised its position in Silicon Motion Technology by 39.0% in the fourth quarter. UBS Group AG now owns 351,541 shares of the semiconductor producer’s stock worth $32,588,000 after acquiring an additional 98,548 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Silicon Motion Technology by 70.5% in the third quarter. Millennium Management LLC now owns 213,188 shares of the semiconductor producer’s stock valued at $20,212,000 after buying an additional 88,146 shares in the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.
Silicon Motion Technology Stock Down 3.9%
Shares of SIMO stock opened at $294.67 on Friday. Silicon Motion Technology Corporation has a fifty-two week low of $65.76 and a fifty-two week high of $314.34. The stock has a market cap of $9.99 billion, a P/E ratio of 58.58, a P/E/G ratio of 0.75 and a beta of 1.72. The business has a fifty day simple moving average of $195.86 and a 200-day simple moving average of $140.18.
Analyst Ratings Changes
A number of research analysts have recently weighed in on SIMO shares. B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings cut Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Susquehanna raised their price target on Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. Finally, Roth Mkm restated a “buy” rating and issued a $250.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $205.63.
Get Our Latest Stock Analysis on SIMO
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.
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