Silicon Motion Technology Corporation $SIMO Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. raised its stake in Silicon Motion Technology by 155.0% in Q1, owning 73,988 shares valued at approximately $3.74 million.
• Several other hedge funds have also increased their positions in Silicon Motion, reflecting strong institutional interest as they collectively own 78.02% of the company's stock.
• Silicon Motion Technology reported an earnings per share (EPS) of $0.69 for the last quarter, exceeding estimates, but noted a 5.7% decline in year-over-year revenue.

Goldman Sachs Group Inc. increased its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 155.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,988 shares of the semiconductor producer's stock after purchasing an additional 44,976 shares during the period. Goldman Sachs Group Inc. owned 0.22% of Silicon Motion Technology worth $3,741,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Parallel Advisors LLC grew its holdings in shares of Silicon Motion Technology by 61.8% during the first quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer's stock worth $58,000 after buying an additional 440 shares during the last quarter. Menard Financial Group LLC acquired a new stake in Silicon Motion Technology during the 4th quarter worth approximately $88,000. Signaturefd LLC increased its holdings in shares of Silicon Motion Technology by 79.3% in the first 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 period. Covestor Ltd raised its stake in shares of Silicon Motion Technology by 161.4% during the first quarter. Covestor Ltd now owns 3,429 shares of the semiconductor producer's stock worth $173,000 after purchasing an additional 2,117 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Silicon Motion Technology by 66.8% during the first quarter. Farther Finance Advisors LLC now owns 3,819 shares of the semiconductor producer's stock worth $195,000 after purchasing an additional 1,529 shares during the period. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SIMO has been the topic of a number of recent analyst reports. B. Riley reiterated a "buy" rating and set a $90.00 price target (up from $75.00) on shares of Silicon Motion Technology in a research note on Thursday, June 5th. Roth Capital lifted their price objective on Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Needham & Company LLC increased their target price on Silicon Motion Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Susquehanna raised their price target on Silicon Motion Technology from $90.00 to $95.00 and gave the company a "positive" rating in a report on Friday, August 1st. Finally, Citigroup raised Silicon Motion Technology to a "buy" rating in a report on Wednesday, June 18th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $90.63.

Silicon Motion Technology Stock Performance

NASDAQ SIMO traded up $2.69 during trading hours on Monday, reaching $95.06. The company's stock had a trading volume of 414,883 shares, compared to its average volume of 288,094. The company's 50-day moving average is $78.94 and its two-hundred day moving average is $65.14. Silicon Motion Technology Corporation has a fifty-two week low of $37.21 and a fifty-two week high of $95.20. The stock has a market cap of $3.23 billion, a PE ratio of 40.11, a PEG ratio of 4.61 and a beta of 0.99.

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, topping the consensus estimate of $0.54 by $0.15. The firm had revenue of $198.68 million during the quarter, compared to the consensus estimate of $180.40 million. Silicon Motion Technology had a return on equity of 10.14% and a net margin of 10.36%.The company's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 EPS. Silicon Motion Technology has set its Q3 2025 guidance at EPS. Equities analysts expect 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.