Quadrant Capital Group LLC Grows Holdings in Silicon Motion Technology Corporation $SIMO

Quadrant Capital Group LLC grew its stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 561.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,581 shares of the semiconductor producer’s stock after acquiring an additional 15,773 shares during the period. Quadrant Capital Group LLC owned about 0.05% of Silicon Motion Technology worth $1,762,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Boston Partners lifted its stake in Silicon Motion Technology by 33.2% in the second quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock worth $55,294,000 after purchasing an additional 183,458 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Silicon Motion Technology in the 2nd quarter worth approximately $1,780,000. Elevation Point Wealth Partners LLC bought a new position in shares of Silicon Motion Technology in the second quarter worth approximately $263,000. SG Americas Securities LLC bought a new stake in Silicon Motion Technology in the 3rd quarter worth about $1,070,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Silicon Motion Technology during the 2nd quarter valued at $288,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Silicon Motion Technology Price Performance

Shares of SIMO stock opened at $120.11 on Friday. The firm’s 50-day simple moving average is $122.17 and its 200-day simple moving average is $101.27. Silicon Motion Technology Corporation has a 1-year low of $37.21 and a 1-year high of $146.85. The firm has a market cap of $4.08 billion, a P/E ratio of 33.00, a PEG ratio of 0.82 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Roth Mkm set a $140.00 price target on shares of Silicon Motion Technology and gave the company a “buy” rating in a report on Wednesday, February 4th. William Blair started coverage on Silicon Motion Technology in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Craig Hallum restated a “buy” rating and issued a $160.00 target price on shares of Silicon Motion Technology in a research note on Thursday, February 5th. Wedbush upped their price target on shares of Silicon Motion Technology from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $132.50.

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.