Silicon Motion Technology (NASDAQ:SIMO) Director Sells $301,250.00 in Stock

Silicon Motion Technology Corporation (NASDAQ:SIMO) Director Han-Ping Shieh sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $301.25, for a total transaction of $301,250.00. Following the transaction, the director directly owned 7,656 shares of the company’s stock, valued at approximately $2,306,370. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Han-Ping Shieh also recently made the following trade(s):

• On Thursday, June 18th, Han-Ping Shieh sold 1,000 shares of Silicon Motion Technology stock. The stock was sold at an average price of $328.00, for a total transaction of $328,000.00.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock opened at $305.28 on Friday. Silicon Motion Technology Corporation has a 1 year low of $70.12 and a 1 year high of $355.00. The firm has a 50 day moving average price of $252.00 and a 200 day moving average price of $163.02. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 60.69, a PEG ratio of 0.73 and a beta of 1.72.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. The company had revenue of $342.11 million for the quarter, compared to the consensus estimate of $299.53 million. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. Silicon Motion Technology’s revenue was up 105.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. Sell-side analysts predict that Silicon Motion Technology Corporation will post 8.35 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SIMO. Wall Street Zen upgraded Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Weiss Ratings downgraded shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Susquehanna lifted their target price on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $246.43.

Hedge Funds Weigh In On Silicon Motion Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. grew its position in Silicon Motion Technology by 2.3% in the first quarter. Assetmark Inc. now owns 2,814 shares of the semiconductor producer’s stock valued at $316,000 after acquiring an additional 63 shares in the last quarter. Wedbush Securities Inc. lifted its position in shares of Silicon Motion Technology by 1.7% during the fourth quarter. Wedbush Securities Inc. now owns 4,685 shares of the semiconductor producer’s stock worth $434,000 after purchasing an additional 79 shares in the last quarter. NewEdge Wealth LLC boosted its stake in shares of Silicon Motion Technology by 3.6% in the fourth quarter. NewEdge Wealth LLC now owns 2,631 shares of the semiconductor producer’s stock valued at $244,000 after purchasing an additional 91 shares during the period. Ballentine Partners LLC boosted its stake in shares of Silicon Motion Technology by 2.8% in the fourth quarter. Ballentine Partners LLC now owns 4,006 shares of the semiconductor producer’s stock valued at $371,000 after purchasing an additional 110 shares during the period. Finally, Penn Capital Management Company LLC grew its holdings in Silicon Motion Technology by 2.3% during the 3rd quarter. Penn Capital Management Company LLC now owns 5,821 shares of the semiconductor producer’s stock valued at $552,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

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.