Silicon Motion Technology Corporation $SIMO Stock Position Increased by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC grew its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 481,818 shares of the semiconductor producer’s stock after purchasing an additional 3,355 shares during the period. 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 about 1.42% of Silicon Motion Technology worth $44,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SIMO. Royal Bank of Canada increased its stake in Silicon Motion Technology by 87.6% during the first quarter. Royal Bank of Canada now owns 69,660 shares of the semiconductor producer’s stock worth $3,522,000 after purchasing an additional 32,527 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Silicon Motion Technology by 155.0% during the first quarter. Goldman Sachs Group Inc. now owns 73,988 shares of the semiconductor producer’s stock worth $3,741,000 after buying an additional 44,976 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Silicon Motion Technology by 2.6% during the second quarter. Geode Capital Management LLC now owns 37,806 shares of the semiconductor producer’s stock worth $2,842,000 after buying an additional 962 shares in the last quarter. Creative Planning acquired a new position in shares of Silicon Motion Technology during the second quarter worth about $324,000. Finally, Legal & General Group Plc grew its position in shares of Silicon Motion Technology by 141.4% during the second quarter. Legal & General Group Plc now owns 9,738 shares of the semiconductor producer’s stock worth $732,000 after buying an additional 5,704 shares in the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SIMO. JPMorgan Chase & Co. boosted their price objective on Silicon Motion Technology from $145.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings downgraded Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Wedbush boosted their price objective on Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen raised Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Silicon Motion Technology presently has an average rating of “Buy” and a consensus price target of $205.63.

Silicon Motion Technology Trading Down 3.9%

SIMO stock opened at $294.67 on Friday. The company has a market capitalization of $9.99 billion, a P/E ratio of 58.58, a PEG ratio of 0.75 and a beta of 1.72. Silicon Motion Technology Corporation has a twelve month low of $65.76 and a twelve month high of $314.34. The business has a 50 day simple moving average of $195.86 and a 200-day simple moving average of $140.18.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.27. The business had revenue of $342.11 million during the quarter, compared to the consensus estimate of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The company’s revenue was up 105.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. Research analysts predict that Silicon Motion Technology Corporation will post 7.65 EPS 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.