Oppenheimer Asset Management Inc. Purchases 6,379 Shares of Silicon Motion Technology Corporation $SIMO

Oppenheimer Asset Management Inc. grew its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 100.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,730 shares of the semiconductor producer’s stock after purchasing an additional 6,379 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Silicon Motion Technology were worth $1,207,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its position in Silicon Motion Technology by 169.4% during the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after acquiring an additional 366 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Silicon Motion Technology in the second quarter valued at approximately $75,000. Headlands Technologies LLC bought a new position in shares of Silicon Motion Technology in the second quarter valued at about $108,000. GAMMA Investing LLC raised its holdings in Silicon Motion Technology by 23.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,203 shares of the semiconductor producer’s stock valued at $114,000 after acquiring an additional 227 shares during the period. Finally, Assetmark Inc. raised its holdings in Silicon Motion Technology by 15.1% in the 2nd quarter. Assetmark Inc. now owns 2,191 shares of the semiconductor producer’s stock valued at $165,000 after acquiring an additional 287 shares during the period. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Stock Performance

SIMO stock opened at $136.28 on Friday. The business has a 50-day simple moving average of $107.48 and a two-hundred day simple moving average of $94.39. The company has a market capitalization of $4.63 billion, a P/E ratio of 37.44, a price-to-earnings-growth ratio of 0.93 and a beta of 1.06. Silicon Motion Technology Corporation has a 52-week low of $37.21 and a 52-week high of $144.68.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SIMO shares. Craig Hallum reaffirmed a “buy” rating and set a $160.00 price target on shares of Silicon Motion Technology in a report on Thursday, February 5th. Susquehanna lifted their target price on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. boosted their target price on shares of Silicon Motion Technology from $85.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Wall Street Zen upgraded shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock 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.