Silicon Motion Technology Corporation $SIMO is Neumeier Poma Investment Counsel LLC’s 5th Largest Position

Neumeier Poma Investment Counsel LLC boosted its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 10.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 478,463 shares of the semiconductor producer’s stock after purchasing an additional 46,208 shares during the quarter. Silicon Motion Technology comprises about 3.7% of Neumeier Poma Investment Counsel LLC’s portfolio, making the stock its 5th biggest position. Neumeier Poma Investment Counsel LLC owned 1.41% of Silicon Motion Technology worth $45,363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SIMO. Orion Porfolio Solutions LLC grew its position in shares of Silicon Motion Technology by 0.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 17,733 shares of the semiconductor producer’s stock worth $1,333,000 after buying an additional 159 shares in the last quarter. Hardy Reed LLC lifted its stake in Silicon Motion Technology by 3.3% in the third quarter. Hardy Reed LLC now owns 4,956 shares of the semiconductor producer’s stock worth $470,000 after acquiring an additional 159 shares during the period. US Bancorp DE grew its holdings in Silicon Motion Technology by 1.8% during the 3rd quarter. US Bancorp DE now owns 12,532 shares of the semiconductor producer’s stock worth $1,188,000 after acquiring an additional 226 shares in the last quarter. GAMMA Investing LLC increased its position in Silicon Motion Technology by 23.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,203 shares of the semiconductor producer’s stock valued at $114,000 after purchasing an additional 227 shares during the period. Finally, Naples Global Advisors LLC raised its holdings in shares of Silicon Motion Technology by 1.5% in the 3rd quarter. Naples Global Advisors LLC now owns 17,940 shares of the semiconductor producer’s stock valued at $1,701,000 after purchasing an additional 260 shares in the last quarter. 78.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SIMO shares. Susquehanna upped their price target on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Wedbush boosted their price target 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. JPMorgan Chase & Co. raised their price objective on Silicon Motion Technology from $85.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to MarketBeat, Silicon Motion Technology presently has an average rating of “Buy” and a consensus target price of $132.50.

Silicon Motion Technology Price Performance

Shares of SIMO stock opened at $143.01 on Thursday. The business’s fifty day moving average price is $114.70 and its 200 day moving average price is $97.71. The firm has a market capitalization of $4.86 billion, a PE ratio of 39.29, 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 $146.85.

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.