US Bancorp DE Cuts Stock Holdings in Silicon Motion Technology Corporation $SIMO

US Bancorp DE lessened its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,306 shares of the semiconductor producer’s stock after selling 766 shares during the quarter. US Bancorp DE’s holdings in Silicon Motion Technology were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its position in shares of Silicon Motion Technology by 35.9% during the first quarter. Cerity Partners LLC now owns 31,413 shares of the semiconductor producer’s stock valued at $1,588,000 after buying an additional 8,298 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Silicon Motion Technology by 66.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,819 shares of the semiconductor producer’s stock valued at $195,000 after buying an additional 1,529 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Silicon Motion Technology in the 1st quarter worth approximately $238,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Silicon Motion Technology by 16.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,692 shares of the semiconductor producer’s stock worth $288,000 after acquiring an additional 785 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Silicon Motion Technology by 65.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 202,721 shares of the semiconductor producer’s stock worth $15,239,000 after buying an additional 80,208 shares during the period. 78.02% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Trading Up 1.9%

Shares of NASDAQ SIMO opened at $94.14 on Friday. The company has a market cap of $3.20 billion, a P/E ratio of 39.72, a P/E/G ratio of 4.98 and a beta of 1.03. Silicon Motion Technology Corporation has a 12-month low of $37.21 and a 12-month high of $104.90. The stock has a fifty day moving average price of $86.15 and a 200 day moving average price of $70.27.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Wednesday, July 30th. The semiconductor producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.15. The firm had revenue of $198.68 million for the quarter, compared to analysts’ expectations of $180.40 million. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.14%. Silicon Motion Technology’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the company posted $0.96 earnings per share. Silicon Motion Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Silicon Motion Technology Corporation will post 3.08 EPS for the current fiscal year.

Analyst Ratings Changes

SIMO has been the topic of several research analyst reports. Craig Hallum boosted their price target on Silicon Motion Technology from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Silicon Motion Technology in a research report on Wednesday, October 8th. Needham & Company LLC lifted their target price on Silicon Motion Technology from $65.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Susquehanna raised their price target on Silicon Motion Technology from $90.00 to $95.00 and gave the company a “positive” rating in a research note on Friday, August 1st. Finally, B. Riley boosted their price target on Silicon Motion Technology from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.43.

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.