UNICOM Systems Inc. Acquires Shares of 41,200 Silicon Motion Technology Corporation $SIMO

UNICOM Systems Inc. bought a new position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 41,200 shares of the semiconductor producer’s stock, valued at approximately $13,733,000. Silicon Motion Technology comprises approximately 0.9% of UNICOM Systems Inc.’s portfolio, making the stock its 26th biggest position. UNICOM Systems Inc. owned approximately 0.12% of Silicon Motion Technology at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Cooper Investors PTY Ltd. acquired a new stake in Silicon Motion Technology in the second quarter worth about $34,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Silicon Motion Technology in the 2nd quarter valued at about $88,000. Brown Brothers Harriman & Co. bought a new position in shares of Silicon Motion Technology in the 3rd quarter valued at about $26,000. WealthCollab LLC boosted its stake in shares of Silicon Motion Technology by 77.4% in the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock valued at $32,000 after purchasing an additional 151 shares during the last quarter. Finally, Arax Advisory Partners grew its position in shares of Silicon Motion Technology by 220.9% during the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock worth $41,000 after buying an additional 307 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

Insiders Place Their Bets

In other Silicon Motion Technology news, Director Han-Ping Shieh sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $328.00, for a total value of $328,000.00. Following the completion of the transaction, the director directly owned 7,500 shares of the company’s stock, valued at approximately $2,460,000. The trade was a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kuan-Ming Lin sold 2,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $305.00, for a total value of $610,000.00. Following the completion of the transaction, the director directly owned 8,500 shares of the company’s stock, valued at approximately $2,592,500. The trade was a 19.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,000 shares of company stock valued at $1,239,250. 5.34% of the stock is owned by corporate insiders.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $256.12 on Friday. The company’s 50 day simple moving average is $286.45 and its 200 day simple moving average is $201.70. Silicon Motion Technology Corporation has a fifty-two week low of $71.35 and a fifty-two week high of $355.00. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 0.46 and a beta of 1.71.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Wednesday, July 29th. The semiconductor producer reported $2.43 EPS for the quarter, beating the consensus estimate of $2.13 by $0.30. The firm had revenue of $451.00 million during the quarter, compared to the consensus estimate of $403.41 million. Silicon Motion Technology had a net margin of 22.06% and a return on equity of 32.04%. The business’s quarterly revenue was up 127.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. As a group, analysts predict that Silicon Motion Technology Corporation will post 10.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SIMO. Weiss Ratings restated a “hold (c)” rating on shares of Silicon Motion Technology in a report on Monday. Wedbush lifted their target price on shares of Silicon Motion Technology from $230.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Zacks Research upgraded shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Needham & Company LLC increased their price target on Silicon Motion Technology from $240.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $341.43.

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.