Oppenheimer Asset Management Inc. Increases Stake in Silicon Motion Technology Corporation $SIMO

Oppenheimer Asset Management Inc. raised its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 100.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,730 shares of the semiconductor producer’s stock after purchasing an additional 6,379 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Silicon Motion Technology were worth $1,207,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SIMO. Royal Bank of Canada raised its holdings in Silicon Motion Technology by 87.6% during the 1st 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. grew its position in shares of 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 purchasing an additional 44,976 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Silicon Motion Technology by 44.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,288 shares of the semiconductor producer’s stock valued at $473,000 after purchasing an additional 1,929 shares during the period. West Tower Group LLC purchased a new position in Silicon Motion Technology during the 2nd quarter valued at about $925,000. Finally, Schwartz Investment Counsel Inc. lifted its holdings in shares of Silicon Motion Technology by 15.8% in the second quarter. Schwartz Investment Counsel Inc. now owns 220,000 shares of the semiconductor producer’s stock worth $16,537,000 after buying an additional 30,000 shares in the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SIMO. Susquehanna increased their target price on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Wedbush increased their price objective on Silicon Motion Technology from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. William Blair assumed coverage on Silicon Motion Technology in a research note on Thursday, January 22nd. They issued an “outperform” rating on the stock. Wall Street Zen raised Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Craig Hallum restated a “buy” rating and issued a $160.00 price objective on shares of Silicon Motion Technology in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $132.50.

Silicon Motion Technology Price Performance

Shares of SIMO opened at $136.28 on Friday. The firm has a market cap of $4.63 billion, a P/E ratio of 37.44, a P/E/G ratio of 0.93 and a beta of 1.06. Silicon Motion Technology Corporation has a 1 year low of $37.21 and a 1 year high of $144.68. The stock has a 50 day simple moving average of $107.48 and a two-hundred day simple moving average of $94.39.

Silicon Motion Technology Profile

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.