ABN Amro Investment Solutions Has $3.90 Million Holdings in Silicon Motion Technology Corporation $SIMO

ABN Amro Investment Solutions lessened its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 26.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,181 shares of the semiconductor producer’s stock after selling 14,450 shares during the quarter. ABN Amro Investment Solutions owned approximately 0.12% of Silicon Motion Technology worth $3,904,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in Silicon Motion Technology by 169.4% in the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after acquiring an additional 366 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Silicon Motion Technology in the 2nd quarter valued at $75,000. Headlands Technologies LLC bought a new position in shares of Silicon Motion Technology in the 2nd quarter worth $108,000. GAMMA Investing LLC grew its stake in shares of Silicon Motion Technology by 23.3% during the third quarter. GAMMA Investing LLC now owns 1,203 shares of the semiconductor producer’s stock worth $114,000 after purchasing an additional 227 shares during the period. Finally, Assetmark Inc. increased its holdings in Silicon Motion Technology by 15.1% in the second quarter. Assetmark Inc. now owns 2,191 shares of the semiconductor producer’s stock valued at $165,000 after purchasing an additional 287 shares during the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analysts Forecast Growth

SIMO has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Silicon Motion Technology in a report on Monday, December 29th. Needham & Company LLC increased their price target on shares of Silicon Motion Technology from $125.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Susquehanna boosted their price objective on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Monday, November 3rd. B. Riley Financial reaffirmed a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, February 5th. Finally, Zacks Research upgraded shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $132.50.

Silicon Motion Technology Stock Performance

Shares of SIMO opened at $136.28 on Monday. The stock has a 50 day simple moving average of $107.48 and a 200 day simple moving average of $94.52. Silicon Motion Technology Corporation has a 52-week low of $37.21 and a 52-week high of $144.68. The firm has a market capitalization of $4.63 billion, a PE ratio of 37.44, a P/E/G ratio of 0.93 and a beta of 1.06.

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.