Silicon Motion Technology Corporation $SIMO Stake Lifted by Pertento Partners LLP

Pertento Partners LLP increased its position in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,290,409 shares of the semiconductor producer’s stock after purchasing an additional 31,405 shares during the quarter. Silicon Motion Technology makes up about 14.2% of Pertento Partners LLP’s investment portfolio, making the stock its largest holding. Pertento Partners LLP owned about 3.80% of Silicon Motion Technology worth $122,344,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in Silicon Motion Technology by 169.4% in the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 366 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Silicon Motion Technology during the 2nd quarter valued at $75,000. GAMMA Investing LLC boosted its holdings in shares of Silicon Motion Technology by 23.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,203 shares of the semiconductor producer’s stock valued at $114,000 after buying an additional 227 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Silicon Motion Technology in the 2nd quarter worth about $108,000. Finally, Pacer Advisors Inc. grew its position in shares of Silicon Motion Technology by 207.8% in the 3rd quarter. Pacer Advisors Inc. now owns 1,865 shares of the semiconductor producer’s stock worth $177,000 after buying an additional 1,259 shares during the period. 78.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SIMO shares. William Blair started coverage on shares of Silicon Motion Technology in a research report on Thursday, January 22nd. They set an “outperform” rating for the company. Wall Street Zen raised shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Silicon Motion Technology in a report on Monday, December 29th. Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Finally, Needham & Company LLC upped their price target on Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned 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 Stock Up 0.7%

Shares of SIMO opened at $123.64 on Thursday. The company has a market capitalization of $4.20 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 0.82 and a beta of 1.02. Silicon Motion Technology Corporation has a twelve month low of $37.21 and a twelve month high of $146.85. The firm has a 50 day moving average of $121.62 and a 200 day moving average of $101.13.

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.