Harbor Capital Advisors Inc. Boosts Holdings in Silicon Motion Technology Corporation $SIMO

Key Points

• Harbor Capital Advisors Inc. increased its stake in Silicon Motion Technology by 65.5%, purchasing an additional 80,208 shares, bringing its total holdings to 202,721 shares worth approximately $15.2 million.
• A number of institutional investors, including Twinbeech Capital LP and Signaturefd LLC, have also increased their positions in Silicon Motion Technology, indicating growing institutional interest in the company.
• Wall Street analysts are optimistic about Silicon Motion Technology, with multiple brokerages raising their price targets and issuing "buy" ratings, leading to an average target price of $90.63 for the stock.

Harbor Capital Advisors Inc. increased its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 65.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 202,721 shares of the semiconductor producer's stock after purchasing an additional 80,208 shares during the quarter. Silicon Motion Technology makes up approximately 0.6% of Harbor Capital Advisors Inc.'s investment portfolio, making the stock its 23rd biggest position. Harbor Capital Advisors Inc. owned approximately 0.60% of Silicon Motion Technology worth $15,239,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Northern Trust Corp increased its holdings in Silicon Motion Technology by 3,234.2% during the fourth quarter. Northern Trust Corp now owns 136,636 shares of the semiconductor producer's stock valued at $7,385,000 after buying an additional 132,538 shares during the period. Ameriprise Financial Inc. boosted its position in Silicon Motion Technology by 124.6% in the 4th quarter. Ameriprise Financial Inc. now owns 6,430 shares of the semiconductor producer's stock valued at $345,000 after buying an additional 32,576 shares during the period. Point72 Asset Management L.P. raised its stake in Silicon Motion Technology by 128.3% during the 4th quarter. Point72 Asset Management L.P. now owns 69,631 shares of the semiconductor producer's stock worth $3,764,000 after acquiring an additional 39,131 shares in the last quarter. Twinbeech Capital LP increased its stake in Silicon Motion Technology by 4.2% in the fourth quarter. Twinbeech Capital LP now owns 10,773 shares of the semiconductor producer's stock valued at $582,000 after purchasing an additional 438 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Silicon Motion Technology during the fourth quarter worth about $256,000. Hedge funds and other institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Stock Up 1.1%

Shares of Silicon Motion Technology stock traded up $1.00 during mid-day trading on Friday, reaching $92.37. 350,312 shares of the stock traded hands, compared to its average volume of 276,730. The business has a 50-day moving average of $78.48 and a 200 day moving average of $64.70. Silicon Motion Technology Corporation has a fifty-two week low of $37.21 and a fifty-two week high of $92.49. The stock has a market capitalization of $3.14 billion, a PE ratio of 38.97, a PEG ratio of 4.56 and a beta of 0.99.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SIMO. Susquehanna increased their price objective 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. Craig Hallum boosted their price objective on shares of Silicon Motion Technology from $70.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. B. Riley restated a "buy" rating and issued a $90.00 price objective (up previously from $75.00) on shares of Silicon Motion Technology in a research note on Thursday, June 5th. Roth Capital raised their target price on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, Needham & Company LLC lifted their price objective on shares of Silicon Motion Technology from $65.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $90.63.

About Silicon Motion Technology

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.