Pertento Partners LLP Has $122.34 Million Stock Position in Silicon Motion Technology Corporation $SIMO

Pertento Partners LLP boosted its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 2.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,290,409 shares of the semiconductor producer’s stock after acquiring an additional 31,405 shares during the period. Silicon Motion Technology makes up 14.2% of Pertento Partners LLP’s portfolio, making the stock its largest holding. Pertento Partners LLP’s holdings in Silicon Motion Technology were worth $122,344,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Silicon Motion Technology by 87.6% in the first quarter. Royal Bank of Canada now owns 69,660 shares of the semiconductor producer’s stock worth $3,522,000 after acquiring an additional 32,527 shares during the period. Goldman Sachs Group Inc. boosted its holdings in 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 worth $3,741,000 after purchasing an additional 44,976 shares during the last quarter. Atria Investments Inc purchased a new stake in Silicon Motion Technology in the second quarter worth approximately $302,000. M&G PLC grew its position in Silicon Motion Technology by 15.3% in the 2nd quarter. M&G PLC now owns 263,184 shares of the semiconductor producer’s stock worth $19,739,000 after purchasing an additional 34,919 shares during the period. Finally, Geode Capital Management LLC raised its stake in Silicon Motion Technology by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 37,806 shares of the semiconductor producer’s stock valued at $2,842,000 after buying an additional 962 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Price Performance

Shares of SIMO stock opened at $123.64 on Thursday. Silicon Motion Technology Corporation has a 1 year low of $37.21 and a 1 year high of $146.85. The firm has a fifty day moving average price of $121.62 and a 200-day moving average price of $101.13. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 0.82 and a beta of 1.02.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SIMO shares. William Blair started coverage on Silicon Motion Technology in a report on Thursday, January 22nd. They set an “outperform” rating on the stock. Craig Hallum reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Silicon Motion Technology in a report on Thursday, February 5th. Needham & Company LLC increased their target price on Silicon Motion Technology from $125.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Finally, Roth Mkm set a $140.00 price target on Silicon Motion Technology and gave the company a “buy” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target 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.