West Tower Group LLC Invests $925,000 in Silicon Motion Technology Corporation $SIMO

Key Points

• West Tower Group LLC invested $925,000 to acquire 12,300 shares of Silicon Motion Technology Corporation, representing about 2.0% of its investment portfolio.
• Silicon Motion Technology reported an EPS of $0.69 for the last quarter, exceeding estimates, but experienced a 5.7% decrease in revenue year-over-year.
• Several analysts have increased their price targets for SIMO, with a consensus price target now at $96.43 and a majority rating it as a "Moderate Buy."

West Tower Group LLC purchased a new position in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,300 shares of the semiconductor producer's stock, valued at approximately $925,000. Silicon Motion Technology makes up about 2.0% of West Tower Group LLC's investment portfolio, making the stock its 13th biggest holding.

A number of other hedge funds have also made changes to their positions in SIMO. Oppenheimer Asset Management Inc. lifted its position in shares of Silicon Motion Technology by 16.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,692 shares of the semiconductor producer's stock worth $288,000 after purchasing an additional 785 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Silicon Motion Technology by 4.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 263,266 shares of the semiconductor producer's stock worth $13,311,000 after purchasing an additional 11,328 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Silicon Motion Technology by 77.6% in the first quarter. Envestnet Asset Management Inc. now owns 93,821 shares of the semiconductor producer's stock worth $4,744,000 after purchasing an additional 40,981 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Silicon Motion Technology by 35.9% in the first quarter. Cerity Partners LLC now owns 31,413 shares of the semiconductor producer's stock worth $1,588,000 after purchasing an additional 8,298 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Silicon Motion Technology by 79.3% in 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 in the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Stock Up 1.9%

Shares of SIMO stock opened at $94.14 on Monday. Silicon Motion Technology Corporation has a 12 month low of $37.21 and a 12 month high of $104.90. The business's 50 day moving average is $86.15 and its two-hundred day moving average is $70.58. The company has a market cap of $3.20 billion, a PE ratio of 39.72, a price-to-earnings-growth ratio of 5.08 and a beta of 1.03.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.54 by $0.15. Silicon Motion Technology had a return on equity of 10.14% and a net margin of 10.36%.The company had revenue of $198.68 million for the quarter, compared to the consensus estimate of $180.40 million. During the same quarter last year, the company posted $0.96 earnings per share. The company's revenue for the quarter was down 5.7% compared to the same quarter last year. Silicon Motion Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts expect that Silicon Motion Technology Corporation will post 3.08 EPS for the current fiscal year.

Analysts Set New Price Targets

SIMO has been the subject of a number of research analyst reports. Needham & Company LLC increased their price target on shares of Silicon Motion Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Susquehanna increased their price objective on Silicon Motion Technology from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, August 1st. Weiss Ratings restated a "hold (c)" rating on shares of Silicon Motion Technology in a report on Wednesday, October 8th. B. Riley increased their price objective on Silicon Motion Technology from $105.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, Craig Hallum increased their price objective on Silicon Motion Technology from $70.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Silicon Motion Technology presently has an average rating of "Moderate Buy" and a consensus price target of $96.43.

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.

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