Silicon Motion Technology Corporation $SIMO Shares Bought by Highland Peak Capital LLC

Key Points

• Highland Peak Capital LLC raised its stake in Silicon Motion (NASDAQ:SIMO) by 8.8% in Q3, adding 30,487 shares to hold 375,885 shares — making SIMO about 11.7% of its portfolio (3rd largest) and a 1.11% ownership worth roughly $35.64M.
• Other institutions also increased exposure (RBC +87.6%, Goldman +155%, Envestnet +22.4%), and institutional investors now own about 78.02% of the stock.
• SIMO trades near $122.30 with a $4.16B market cap and a P/E of 33.6, and Wall Street consensus is a Buy with a $132.50 average target and multiple recent buy/strong-buy ratings.

Highland Peak Capital LLC grew its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 8.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 375,885 shares of the semiconductor producer's stock after purchasing an additional 30,487 shares during the period. Silicon Motion Technology makes up approximately 11.7% of Highland Peak Capital LLC's investment portfolio, making the stock its 3rd largest holding. Highland Peak Capital LLC owned 1.11% of Silicon Motion Technology worth $35,638,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SIMO. Royal Bank of Canada grew its position in 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 buying an additional 32,527 shares in the last quarter. Goldman Sachs Group Inc. raised 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. Envestnet Asset Management Inc. lifted its stake in shares of Silicon Motion Technology by 22.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 114,840 shares of the semiconductor producer's stock worth $8,632,000 after acquiring an additional 21,019 shares during the period. Assetmark Inc. boosted its holdings in shares of Silicon Motion Technology by 15.1% in the second quarter. Assetmark Inc. now owns 2,191 shares of the semiconductor producer's stock valued at $165,000 after acquiring an additional 287 shares in the last quarter. Finally, Atria Investments Inc acquired a new position in shares of Silicon Motion Technology during the second quarter valued at approximately $302,000. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Stock Up 2.4%

NASDAQ:SIMO opened at $122.30 on Thursday. The stock has a fifty day simple moving average of $118.45 and a 200 day simple moving average of $99.48. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02. Silicon Motion Technology Corporation has a 1-year low of $37.21 and a 1-year high of $146.85.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SIMO shares. William Blair initiated coverage on Silicon Motion Technology in a research note on Thursday, January 22nd. They set an "outperform" rating for the company. Roth Mkm set a $140.00 target price on Silicon Motion Technology and gave the company a "buy" rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Silicon Motion Technology in a research report on Monday, December 29th. B. Riley Financial reissued a "buy" rating on shares of Silicon Motion Technology in a report on Thursday, February 5th. Finally, Zacks Research upgraded shares of Silicon Motion Technology from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $132.50.

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.

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