Granahan Investment Management LLC Has $19.70 Million Stake in Silicon Motion Technology Corporation $SIMO

Granahan Investment Management LLC increased its position in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 59.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,758 shares of the semiconductor producer’s stock after purchasing an additional 77,667 shares during the period. Granahan Investment Management LLC owned approximately 0.61% of Silicon Motion Technology worth $19,698,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Brown Brothers Harriman & Co. bought a new stake in Silicon Motion Technology during the 3rd quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Silicon Motion Technology by 169.4% in the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after buying an additional 366 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Silicon Motion Technology during the second quarter valued at about $75,000. Headlands Technologies LLC acquired a new position in shares of Silicon Motion Technology during the second quarter valued at about $108,000. Finally, GAMMA Investing LLC increased its position in shares of Silicon Motion Technology by 23.3% during the third quarter. GAMMA Investing LLC now owns 1,203 shares of the semiconductor producer’s stock worth $114,000 after acquiring an additional 227 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday. William Blair initiated coverage on Silicon Motion Technology in a report on Thursday, January 22nd. They set an “outperform” rating for the company. B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, February 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Silicon Motion Technology in a report on Monday, December 29th. Finally, Needham & Company LLC lifted their target price on Silicon Motion Technology from $125.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $132.50.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock opened at $123.26 on Monday. Silicon Motion Technology Corporation has a fifty-two week low of $37.21 and a fifty-two week high of $146.85. The stock has a market cap of $4.19 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 0.82 and a beta of 1.02. The firm’s 50-day simple moving average is $122.76 and its 200 day simple moving average is $101.90.

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.