Granahan Investment Management LLC Boosts Stock Holdings in Silicon Motion Technology Corporation $SIMO

Granahan Investment Management LLC raised its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,129 shares of the semiconductor producer’s stock after buying an additional 21,371 shares during the period. Granahan Investment Management LLC owned about 0.67% of Silicon Motion Technology worth $21,240,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SIMO. Apis Capital Advisors LLC boosted its holdings in shares of Silicon Motion Technology by 11.7% during the third quarter. Apis Capital Advisors LLC now owns 286,000 shares of the semiconductor producer’s stock worth $27,116,000 after purchasing an additional 30,000 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Silicon Motion Technology by 44.3% during the fourth quarter. SG Americas Securities LLC now owns 16,290 shares of the semiconductor producer’s stock worth $1,510,000 after purchasing an additional 5,002 shares during the period. UBS Group AG boosted its holdings in shares of Silicon Motion Technology by 39.0% during the fourth quarter. UBS Group AG now owns 351,541 shares of the semiconductor producer’s stock worth $32,588,000 after purchasing an additional 98,548 shares during the period. Neumeier Poma Investment Counsel LLC boosted its holdings in shares of Silicon Motion Technology by 10.7% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 478,463 shares of the semiconductor producer’s stock worth $45,363,000 after purchasing an additional 46,208 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Silicon Motion Technology by 89.7% during the third quarter. JPMorgan Chase & Co. now owns 8,634 shares of the semiconductor producer’s stock worth $819,000 after purchasing an additional 4,082 shares during the period. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SIMO. Wedbush increased their target price on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. B. Riley Financial reiterated a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, April 30th. Roth Mkm reiterated a “buy” rating and set a $250.00 target price on shares of Silicon Motion Technology in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $205.63.

Silicon Motion Technology Price Performance

SIMO stock opened at $282.68 on Wednesday. Silicon Motion Technology Corporation has a 1 year low of $68.41 and a 1 year high of $314.34. The company has a market cap of $9.59 billion, a P/E ratio of 56.20, a PEG ratio of 0.67 and a beta of 1.72. The firm has a 50-day moving average of $220.91 and a 200 day moving average of $150.57.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The company had revenue of $342.11 million during the quarter, compared to the consensus estimate of $299.53 million. During the same period in the prior year, the firm earned $0.60 earnings per share. Silicon Motion Technology’s revenue was up 105.5% on a year-over-year basis. On average, equities research analysts expect that Silicon Motion Technology Corporation will post 7.65 earnings per share for the current fiscal year.

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.