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

Granahan Investment Management LLC increased its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 59.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207,758 shares of the semiconductor producer’s stock after acquiring an additional 77,667 shares during the quarter. Granahan Investment Management LLC’s holdings in Silicon Motion Technology were worth $19,698,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SIMO. Frontier Capital Management Co. LLC grew its stake in Silicon Motion Technology by 115.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer’s stock valued at $96,301,000 after purchasing an additional 686,261 shares during the period. Ophir Asset Management Pty Ltd bought a new stake in shares of Silicon Motion Technology during the 2nd quarter worth $27,941,000. Boston Partners boosted its holdings in shares of Silicon Motion Technology by 33.2% in the 2nd quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock worth $55,294,000 after buying an additional 183,458 shares during the last quarter. Hawk Ridge Capital Management LP boosted its holdings in shares of Silicon Motion Technology by 71.8% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 372,747 shares of the semiconductor producer’s stock worth $35,340,000 after buying an additional 155,817 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Silicon Motion Technology by 44.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 442,747 shares of the semiconductor producer’s stock valued at $41,977,000 after buying an additional 135,627 shares during the period. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Performance

SIMO stock opened at $123.26 on Monday. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 0.82 and a beta of 1.02. Silicon Motion Technology Corporation has a fifty-two week low of $37.21 and a fifty-two week high of $146.85. The stock has a fifty day moving average of $122.76 and a 200-day moving average of $101.90.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SIMO. William Blair initiated coverage on shares of Silicon Motion Technology in a report on Thursday, January 22nd. They set an “outperform” rating for the company. Craig Hallum reiterated a “buy” rating and issued a $160.00 target price on shares of Silicon Motion Technology in a research note on Thursday, February 5th. Wall Street Zen downgraded shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday. B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Silicon Motion Technology in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to MarketBeat, Silicon Motion Technology presently has a consensus rating of “Buy” and an average target price of $132.50.

Silicon Motion Technology Company 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.