Wellington Management Group LLP Has $35.17 Million Stock Position in Silicon Motion Technology Corporation $SIMO

Key Points

• Wellington Management Group LLP reduced its stake in Silicon Motion Technology by 12.7%, now owning 695,554 shares valued at approximately $35.17 million.
• Several other institutional investors increased their holdings in Silicon Motion Technology, with the majority of the stock (78.02%) being held by institutional investors and hedge funds.
• Research analysts have expressed positive views on the stock, with ten analysts rating it as a "Buy" and an average price target of $87.78.

Wellington Management Group LLP reduced its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 695,554 shares of the semiconductor producer's stock after selling 101,638 shares during the period. Wellington Management Group LLP owned 2.05% of Silicon Motion Technology worth $35,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC lifted its position in Silicon Motion Technology by 61.8% during the 1st quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer's stock worth $58,000 after acquiring an additional 440 shares during the last quarter. Menard Financial Group LLC acquired a new position in Silicon Motion Technology during the 4th quarter worth $88,000. Signaturefd LLC lifted its position in Silicon Motion Technology by 79.3% during the 1st quarter. Signaturefd LLC now owns 1,664 shares of the semiconductor producer's stock worth $84,000 after acquiring an additional 736 shares during the last quarter. LRI Investments LLC lifted its position in Silicon Motion Technology by 519.0% during the 4th quarter. LRI Investments LLC now owns 3,033 shares of the semiconductor producer's stock worth $164,000 after acquiring an additional 2,543 shares during the last quarter. Finally, Covestor Ltd lifted its position in Silicon Motion Technology by 161.4% during the 1st quarter. Covestor Ltd now owns 3,429 shares of the semiconductor producer's stock worth $173,000 after acquiring an additional 2,117 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SIMO shares. Bank of America raised shares of Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research report on Wednesday, June 18th. Craig Hallum boosted their target price on shares of Silicon Motion Technology from $70.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, April 30th. Susquehanna boosted their target price on shares of Silicon Motion Technology from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Finally, Roth Capital upped their price objective on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Ten analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $87.78.

Silicon Motion Technology Stock Performance

Shares of SIMO opened at $76.43 on Monday. The company has a 50-day simple moving average of $73.95 and a 200-day simple moving average of $60.88. The firm has a market capitalization of $2.60 billion, a P/E ratio of 32.25, a P/E/G ratio of 3.82 and a beta of 0.92. Silicon Motion Technology Corporation has a 52 week low of $37.21 and a 52 week high of $85.11.

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 analyst estimates 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 prior year, the business earned $0.96 earnings per share. Silicon Motion Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that Silicon Motion Technology Corporation will post 3.08 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. Silicon Motion Technology's payout ratio is presently 83.97%.

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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