Adage Capital Partners GP L.L.C. Has $32.68 Million Stock Position in Silicon Motion Technology Corporation $SIMO

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Silicon Motion Technology by 2.9%, acquiring an additional 18,054 shares, bringing its total ownership to approximately 646,264 shares valued at $32.7 million.
• Multiple institutional investors significantly increased their positions in Silicon Motion Technology, with 78.02% of the shares now held by institutional investors overall.
• Analysts are bullish on Silicon Motion, with recent reports raising price targets to as high as $95.00, and a consensus rating of "Buy" among ten analysts.

Adage Capital Partners GP L.L.C. grew its position in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 646,264 shares of the semiconductor producer's stock after buying an additional 18,054 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 1.90% of Silicon Motion Technology worth $32,675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SIMO. Invesco Ltd. boosted its holdings in shares of Silicon Motion Technology by 61.3% in the first quarter. Invesco Ltd. now owns 1,675,648 shares of the semiconductor producer's stock worth $84,721,000 after buying an additional 636,869 shares during the period. SG Capital Management LLC purchased a new stake in shares of Silicon Motion Technology in the fourth quarter worth approximately $15,006,000. Boston Partners lifted its position in shares of Silicon Motion Technology by 77.3% in the first quarter. Boston Partners now owns 552,139 shares of the semiconductor producer's stock worth $27,900,000 after purchasing an additional 240,737 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of Silicon Motion Technology by 20.1% in the first quarter. Reinhart Partners LLC. now owns 1,364,291 shares of the semiconductor producer's stock worth $68,979,000 after purchasing an additional 228,553 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Silicon Motion Technology by 40.1% in the fourth quarter. Wellington Management Group LLP now owns 797,192 shares of the semiconductor producer's stock worth $43,088,000 after purchasing an additional 228,333 shares in the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SIMO has been the subject of a number of research analyst reports. Needham & Company LLC increased their price target on shares of Silicon Motion Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. B. Riley reissued a "buy" rating and issued a $90.00 price target (up from $75.00) on shares of Silicon Motion Technology in a research report on Thursday, June 5th. Bank of America raised shares of Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a research report on Wednesday, June 18th. Roth Capital increased their price target on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Finally, Susquehanna increased their price target on shares of Silicon Motion Technology from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $87.78.

Silicon Motion Technology Price Performance

SIMO traded up $1.21 during midday trading on Friday, hitting $82.38. 326,918 shares of the company's stock traded hands, compared to its average volume of 214,369. The company has a market cap of $2.80 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 4.11 and a beta of 0.99. The stock's fifty day simple moving average is $75.68 and its 200-day simple moving average is $62.56. Silicon Motion Technology Corporation has a one year low of $37.21 and a one year high of $85.11.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The semiconductor producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.15. The firm had revenue of $198.68 million for the quarter, compared to analyst estimates of $180.40 million. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.14%. The company's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 earnings per share. Silicon Motion Technology has set its Q3 2025 guidance at EPS. On average, research analysts expect that Silicon Motion Technology Corporation will post 3.08 EPS for the current year.

Silicon Motion Technology Company 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.