Envestnet Asset Management Inc. Lowers Holdings in Silicon Motion Technology Corporation $SIMO

Envestnet Asset Management Inc. trimmed its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,951 shares of the semiconductor producer’s stock after selling 4,889 shares during the quarter. Envestnet Asset Management Inc. owned 0.32% of Silicon Motion Technology worth $10,424,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of Silicon Motion Technology by 87.6% in the 1st quarter. Royal Bank of Canada now owns 69,660 shares of the semiconductor producer’s stock valued at $3,522,000 after acquiring an additional 32,527 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Silicon Motion Technology by 155.0% during the 1st 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 period. Vanguard Personalized Indexing Management LLC increased its holdings in Silicon Motion Technology by 44.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,288 shares of the semiconductor producer’s stock valued at $473,000 after purchasing an additional 1,929 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Silicon Motion Technology by 11.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,351 shares of the semiconductor producer’s stock valued at $477,000 after purchasing an additional 659 shares during the period. Finally, Assetmark Inc. lifted its stake in Silicon Motion Technology by 15.1% during the second quarter. Assetmark Inc. now owns 2,191 shares of the semiconductor producer’s stock worth $165,000 after purchasing an additional 287 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SIMO shares. Craig Hallum reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, February 5th. Roth Mkm set a $140.00 target price on Silicon Motion Technology and gave the company a “buy” rating in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, February 5th. Finally, William Blair began coverage on shares of Silicon Motion Technology in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Silicon Motion Technology currently has an average rating of “Buy” and a consensus price target of $132.50.

Silicon Motion Technology Stock Performance

Shares of SIMO opened at $132.76 on Thursday. Silicon Motion Technology Corporation has a 1 year low of $37.21 and a 1 year high of $144.68. The stock has a market capitalization of $4.51 billion, a PE ratio of 36.47, a PEG ratio of 0.90 and a beta of 1.06. The stock has a 50-day simple moving average of $109.82 and a 200-day simple moving average of $95.59.

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.