Silicon Motion Technology Corporation $SIMO Stock Holdings Lifted by Apis Capital Advisors LLC

Apis Capital Advisors LLC lifted its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 11.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 286,000 shares of the semiconductor producer’s stock after purchasing an additional 30,000 shares during the period. Silicon Motion Technology comprises 6.0% of Apis Capital Advisors LLC’s holdings, making the stock its 3rd biggest position. Apis Capital Advisors LLC owned 0.84% of Silicon Motion Technology worth $27,116,000 as of its most recent SEC filing.

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

Silicon Motion Technology Trading Up 2.6%

Shares of SIMO stock opened at $123.26 on Friday. Silicon Motion Technology Corporation has a 12-month low of $37.21 and a 12-month high of $146.85. The business’s fifty day simple moving average is $122.76 and its 200-day simple moving average is $101.74. The company has a market cap of $4.19 billion, a PE ratio of 33.86, a PEG ratio of 0.82 and a beta of 1.02.

Analysts Set New Price Targets

SIMO has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Silicon Motion Technology in a research report on Monday, December 29th. Needham & Company LLC raised their price objective on Silicon Motion Technology from $125.00 to $155.00 and gave the company a “buy” rating in a research report 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 research note on Wednesday, February 4th. Wedbush boosted their target price on shares of Silicon Motion Technology from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, William Blair initiated coverage on shares of Silicon Motion Technology in a research report on Thursday, January 22nd. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $132.50.

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.