Silicon Motion Technology Corporation $SIMO Shares Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its shares in Silicon Motion Technology Corporation by 4.7%, owning a total of 799,118 shares worth approximately $40.4 million.
• Multiple analysts have boosted their price targets for Silicon Motion Technology to $90, with a consensus rating of "Buy" among ten analysts.
• Silicon Motion reported a quarterly EPS of $0.69, surpassing estimates, though revenue was down 5.7% year-over-year at $198.68 million.

The Manufacturers Life Insurance Company increased its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 799,118 shares of the semiconductor producer's stock after purchasing an additional 35,699 shares during the quarter. The Manufacturers Life Insurance Company owned 2.35% of Silicon Motion Technology worth $40,403,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twinbeech Capital LP raised its holdings in Silicon Motion Technology by 4.2% during the fourth quarter. Twinbeech Capital LP now owns 10,773 shares of the semiconductor producer's stock worth $582,000 after purchasing an additional 438 shares during the last quarter. Parallel Advisors LLC raised its holdings in Silicon Motion Technology by 61.8% during the first quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer's stock worth $58,000 after purchasing an additional 440 shares during the last quarter. Signaturefd LLC raised its holdings in Silicon Motion Technology by 79.3% during the first quarter. Signaturefd LLC now owns 1,664 shares of the semiconductor producer's stock worth $84,000 after purchasing an additional 736 shares during the last quarter. Cadence Bank raised its holdings in Silicon Motion Technology by 4.9% during the first quarter. Cadence Bank now owns 15,626 shares of the semiconductor producer's stock worth $790,000 after purchasing an additional 737 shares during the last quarter. Finally, 1492 Capital Management LLC increased its position in Silicon Motion Technology by 2.5% during the first quarter. 1492 Capital Management LLC now owns 31,391 shares of the semiconductor producer's stock worth $1,587,000 after buying an additional 769 shares in the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SIMO shares. Needham & Company LLC boosted their price target on Silicon Motion Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Bank of America raised Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a report on Wednesday, June 18th. Roth Capital boosted their price target on Silicon Motion Technology from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. B. Riley reissued a "buy" rating and issued a $90.00 price target (up from $75.00) on shares of Silicon Motion Technology in a report on Thursday, June 5th. Finally, Susquehanna boosted 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. Ten analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $87.78.

Silicon Motion Technology Stock Down 3.7%

Shares of NASDAQ:SIMO opened at $79.68 on Monday. The company has a market cap of $2.71 billion, a P/E ratio of 33.62, a P/E/G ratio of 3.98 and a beta of 0.99. Silicon Motion Technology Corporation has a 52 week low of $37.21 and a 52 week high of $85.11. The business has a fifty day simple moving average of $74.88 and a 200-day simple moving average of $61.78.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor producer reported $0.69 EPS for the quarter, beating 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 return on equity of 10.14% and a net margin of 10.36%.The business's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. Silicon Motion Technology has set its Q3 2025 guidance at EPS. Sell-side analysts expect that Silicon Motion Technology Corporation will post 3.08 earnings per share for the current fiscal year.

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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