Polar Asset Management Partners Inc. Decreases Stake in Silicon Motion Technology Corporation $SIMO

Key Points

• Polar Asset Management Partners Inc. has reduced its stake in Silicon Motion Technology Corporation by 30.4%, selling 49,424 shares, which now totals 113,276 shares valued at approximately $5.73 million.
• Several institutional investors increased their positions in Silicon Motion, notably Invesco Ltd., which grew its holdings by 61.3% to 1.68 million shares valued at about $84.72 million.
• Silicon Motion reported quarterly earnings of $0.69 per share, exceeding analysts' expectations, though revenue declined 5.7% year-over-year to $198.68 million.

Polar Asset Management Partners Inc. decreased its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 30.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 113,276 shares of the semiconductor producer's stock after selling 49,424 shares during the quarter. Polar Asset Management Partners Inc. owned 0.33% of Silicon Motion Technology worth $5,727,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SIMO. Adage Capital Partners GP L.L.C. grew its position in shares of Silicon Motion Technology by 2.9% during the first quarter. Adage Capital Partners GP L.L.C. now owns 646,264 shares of the semiconductor producer's stock worth $32,675,000 after buying an additional 18,054 shares in the last quarter. Royal Bank of Canada increased its position in shares of Silicon Motion Technology by 87.6% in the 1st quarter. Royal Bank of Canada now owns 69,660 shares of the semiconductor producer's stock valued at $3,522,000 after purchasing an additional 32,527 shares during the last quarter. Apis Capital Advisors LLC raised its holdings in shares of Silicon Motion Technology by 105.0% in the 1st quarter. Apis Capital Advisors LLC now owns 164,000 shares of the semiconductor producer's stock valued at $8,292,000 after purchasing an additional 84,000 shares in the last quarter. Vident Advisory LLC increased its holdings in Silicon Motion Technology by 26.5% in the first quarter. Vident Advisory LLC now owns 9,296 shares of the semiconductor producer's stock valued at $470,000 after buying an additional 1,950 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Silicon Motion Technology by 4.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 799,118 shares of the semiconductor producer's stock worth $40,403,000 after buying an additional 35,699 shares during the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Stock Performance

SIMO stock traded down $0.94 on Tuesday, reaching $83.91. The company had a trading volume of 246,678 shares, compared to its average volume of 217,526. The company's fifty day moving average is $76.06 and its 200 day moving average is $62.89. The company has a market cap of $2.85 billion, a P/E ratio of 35.41, a PEG ratio of 4.24 and a beta of 0.99. Silicon Motion Technology Corporation has a 1 year low of $37.21 and a 1 year high of $85.11.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its earnings results 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 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%. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 EPS. Silicon Motion Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict 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 research analyst reports. Needham & Company LLC raised their price objective on shares of Silicon Motion Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Citigroup raised Silicon Motion Technology to a "buy" rating in a research report on Wednesday, June 18th. Roth Capital upped their target price on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Susquehanna increased their price target on Silicon Motion Technology from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, August 1st. Finally, B. Riley reissued a "buy" rating and issued a $90.00 price objective (up from $75.00) on shares of Silicon Motion Technology in a research note on Thursday, June 5th. Ten analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $87.78.

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.