Deltec Asset Management LLC Sells 8,500 Shares of Silicon Motion Technology Corporation $SIMO

Key Points

• Deltec Asset Management LLC has reduced its stake in Silicon Motion Technology by 63.0%, selling 8,500 shares and now holding 5,000 shares valued at $376,000.
• Several institutional investors increased their holdings in Silicon Motion Technology, with notable increases such as GAMMA Investing LLC boosting their stake by 118.3% in the second quarter.
• Wall Street analysts have raised price targets for Silicon Motion Technology, with estimates now ranging from $90.00 to $120.00, reflecting a positive outlook for the company.

Deltec Asset Management LLC trimmed its position in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 63.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,000 shares of the semiconductor producer's stock after selling 8,500 shares during the quarter. Deltec Asset Management LLC's holdings in Silicon Motion Technology were worth $376,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SIMO. Parallel Advisors LLC lifted its holdings in shares of Silicon Motion Technology by 61.8% during the 1st quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer's stock worth $58,000 after acquiring an additional 440 shares during the period. GAMMA Investing LLC lifted its stake in Silicon Motion Technology by 118.3% in the 2nd quarter. GAMMA Investing LLC now owns 976 shares of the semiconductor producer's stock valued at $73,000 after purchasing an additional 529 shares during the last quarter. Signaturefd LLC lifted its stake in Silicon Motion Technology by 79.3% in the 1st quarter. Signaturefd LLC now owns 1,664 shares of the semiconductor producer's stock valued at $84,000 after purchasing an additional 736 shares during the last quarter. Cadence Bank lifted its stake in Silicon Motion Technology by 4.9% in the 1st quarter. Cadence Bank now owns 15,626 shares of the semiconductor producer's stock valued at $790,000 after purchasing an additional 737 shares during the last quarter. Finally, 1492 Capital Management LLC lifted its stake in Silicon Motion Technology by 2.5% in the 1st quarter. 1492 Capital Management LLC now owns 31,391 shares of the semiconductor producer's stock valued at $1,587,000 after purchasing an additional 769 shares during the last quarter. Institutional investors and hedge funds own 78.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Needham & Company LLC increased their price objective on shares of Silicon Motion Technology from $65.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Craig Hallum raised their price target on shares of Silicon Motion Technology from $70.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. 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 note on Wednesday, June 18th. B. Riley raised their price target on shares of Silicon Motion Technology from $105.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Finally, Susquehanna raised their price target on shares of Silicon Motion Technology from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, August 1st. Nine analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Silicon Motion Technology currently has an average rating of "Buy" and a consensus price target of $94.38.

Silicon Motion Technology Trading Up 1.1%

NASDAQ:SIMO opened at $94.81 on Wednesday. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 4.68 and a beta of 0.99. The firm has a fifty day simple moving average of $81.29 and a two-hundred day simple moving average of $66.73. Silicon Motion Technology Corporation has a 12 month low of $37.21 and a 12 month high of $97.70.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.15. The firm had revenue of $198.68 million during the quarter, compared to analysts' expectations of $180.40 million. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.14%. The business's revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. Silicon Motion Technology has set its Q3 2025 guidance at EPS. Equities analysts predict that Silicon Motion Technology Corporation will post 3.08 earnings per share for the current fiscal 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.

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