McElhenny Sheffield Capital Management LLC Takes Position in Silicon Motion Technology Corporation $SIMO

Key Points

• McElhenny Sheffield Capital Management has acquired a new stake in Silicon Motion Technology, purchasing 14,410 shares valued at approximately $1,083,000.
• Multiple institutional investors have increased their positions in Silicon Motion, with 78.02% of the stock currently owned by institutional investors and hedge funds.
• Silicon Motion Technology reported a quarterly earnings per share of $0.69, exceeding analyst expectations, despite a 5.7% decline in revenue compared to the previous year.

McElhenny Sheffield Capital Management LLC bought a new stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 14,410 shares of the semiconductor producer's stock, valued at approximately $1,083,000.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Silicon Motion Technology by 118.3% during the 2nd quarter. GAMMA Investing LLC now owns 976 shares of the semiconductor producer's stock valued at $73,000 after acquiring an additional 529 shares in the last quarter. Signaturefd LLC boosted its position in shares of Silicon Motion Technology by 79.3% during the 1st quarter. Signaturefd LLC now owns 1,664 shares of the semiconductor producer's stock valued at $84,000 after acquiring an additional 736 shares in the last quarter. Covestor Ltd boosted its position in shares of Silicon Motion Technology by 161.4% during the 1st quarter. Covestor Ltd now owns 3,429 shares of the semiconductor producer's stock valued at $173,000 after acquiring an additional 2,117 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Silicon Motion Technology by 66.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,819 shares of the semiconductor producer's stock valued at $195,000 after acquiring an additional 1,529 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Silicon Motion Technology during the 2nd quarter valued at about $226,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Trading Down 0.6%

Shares of NASDAQ SIMO opened at $93.86 on Thursday. Silicon Motion Technology Corporation has a 1-year low of $37.21 and a 1-year high of $104.90. The company has a market cap of $3.19 billion, a PE ratio of 39.60, a P/E/G ratio of 4.72 and a beta of 1.03. The company has a 50-day moving average of $84.03 and a two-hundred day moving average of $68.41.

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

Analyst Upgrades and Downgrades

SIMO has been the topic of a number of recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Silicon Motion Technology in a research report on Wednesday. Susquehanna boosted 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 report on Friday, August 1st. Citigroup upgraded shares of Silicon Motion Technology to a "buy" rating in a research report on Wednesday, June 18th. Needham & Company LLC boosted their price target on shares of Silicon Motion Technology from $65.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Bank of America upgraded shares of Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Wednesday, June 18th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $96.43.

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.

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