Silicon Motion Technology (NASDAQ:SIMO) Director Han-Ping Shieh Sells 1,000 Shares of Stock

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

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 shares were sold at an average price of $328.00, for a total value of $328,000.00.

Silicon Motion Technology Price Performance

Shares of Silicon Motion Technology stock opened at $321.66 on Thursday. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 63.95, a price-to-earnings-growth ratio of 0.71 and a beta of 1.72. The stock’s 50-day moving average is $244.77 and its 200-day moving average is $160.37. Silicon Motion Technology Corporation has a one year low of $70.12 and a one year high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.27. The business had revenue of $342.11 million for the quarter, compared to analyst estimates of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.Silicon Motion Technology’s revenue for the quarter was up 105.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. On average, equities analysts expect that Silicon Motion Technology Corporation will post 8.35 EPS for the current year.

Institutional Investors Weigh In On Silicon Motion Technology

A number of institutional investors and hedge funds have recently made changes to their positions in SIMO. Brown Brothers Harriman & Co. acquired a new stake in shares of Silicon Motion Technology in the 3rd quarter valued at approximately $26,000. WealthCollab LLC increased its holdings in Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after buying an additional 151 shares during the last quarter. Arax Advisory Partners increased its holdings in Silicon Motion Technology by 220.9% during the fourth 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 last quarter. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 366 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new stake in Silicon Motion Technology during the fourth quarter worth $71,000. Institutional investors own 78.02% of the company’s stock.

Analyst Ratings Changes

SIMO has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective 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. Weiss Ratings downgraded shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Susquehanna lifted their price target on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a research note on Thursday, April 30th. Craig Hallum reissued a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Silicon Motion Technology currently has an average rating of “Buy” and an average target price of $246.43.

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.