Silicon Motion Technology Corporation $SIMO is Reinhart Partners LLC.'s 3rd Largest Position

Key Points

• Reinhart Partners LLC. increased its stake in Silicon Motion Technology by 7.9%, acquiring 107,292 shares to hold a total of 1,471,583 shares, representing 3.8% of its portfolio.
• Several other institutional investors, including Invesco Ltd. and Boston Partners, have significantly increased their holdings in Silicon Motion Technology, reflecting strong institutional confidence in the stock.
• Analysts are optimistic about Silicon Motion Technology, with firms like Citigroup and Roth Capital giving it a "buy" rating and a price target of $90.00, indicating a consensus expectation of growth.

Reinhart Partners LLC. boosted its position in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,471,583 shares of the semiconductor producer's stock after purchasing an additional 107,292 shares during the period. Silicon Motion Technology makes up approximately 3.8% of Reinhart Partners LLC.'s investment portfolio, making the stock its 3rd biggest holding. Reinhart Partners LLC. owned approximately 4.33% of Silicon Motion Technology worth $110,620,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its stake in shares of Silicon Motion Technology by 65.5% during the second quarter. Harbor Capital Advisors Inc. now owns 202,721 shares of the semiconductor producer's stock valued at $15,239,000 after purchasing an additional 80,208 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Silicon Motion Technology by 155.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 73,988 shares of the semiconductor producer's stock worth $3,741,000 after buying an additional 44,976 shares in the last quarter. Clearline Capital LP increased its stake in shares of Silicon Motion Technology by 67.5% during the first quarter. Clearline Capital LP now owns 289,846 shares of the semiconductor producer's stock valued at $14,655,000 after buying an additional 116,850 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Silicon Motion Technology by 2.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 646,264 shares of the semiconductor producer's stock valued at $32,675,000 after acquiring an additional 18,054 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Silicon Motion Technology by 87.6% in the first quarter. Royal Bank of Canada now owns 69,660 shares of the semiconductor producer's stock worth $3,522,000 after acquiring an additional 32,527 shares during the period. Institutional investors own 78.02% of the company's stock.

Analysts Set New Price Targets

SIMO has been the subject of several research reports. Roth Capital upped their price target on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. B. Riley reaffirmed a "buy" rating and set a $90.00 price objective (up previously from $75.00) on shares of Silicon Motion Technology in a research report on Thursday, June 5th. Craig Hallum lifted their target price on Silicon Motion Technology from $70.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Susquehanna increased 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. Finally, Bank of America raised shares of Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Wednesday, June 18th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $90.63.

Silicon Motion Technology Trading Up 3.3%

Shares of SIMO stock traded up $2.91 during trading hours on Thursday, reaching $91.37. 464,603 shares of the company's stock were exchanged, compared to its average volume of 261,153. Silicon Motion Technology Corporation has a 1 year low of $37.21 and a 1 year high of $92.25. The stock has a market cap of $3.10 billion, a PE ratio of 38.55, a PEG ratio of 4.42 and a beta of 0.99. The stock's fifty day moving average price is $78.11 and its two-hundred day moving average price is $64.43.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor producer reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.15. The company 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%. Silicon Motion Technology's revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the business earned $0.96 EPS. Silicon Motion Technology has set its Q3 2025 guidance at EPS. On average, equities analysts expect that Silicon Motion Technology Corporation will post 3.08 EPS for the current fiscal year.

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.