Silicon Motion Technology (NASDAQ:SIMO) Director Sells $328,000.00 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 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 sale, the director owned 7,500 shares of the company’s stock, valued at approximately $2,460,000. The trade was a 11.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, June 2nd, Han-Ping Shieh sold 1,000 shares of Silicon Motion Technology stock. The stock was sold at an average price of $301.25, for a total value of $301,250.00.

Silicon Motion Technology Stock Down 6.1%

SIMO stock opened at $305.28 on Friday. Silicon Motion Technology Corporation has a twelve month low of $70.12 and a twelve month high of $355.00. The stock has a market cap of $10.35 billion, a P/E ratio of 60.69, a PEG ratio of 0.73 and a beta of 1.72. The business’s 50-day moving average price is $252.00 and its 200-day moving average price is $163.02.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on SIMO. Craig Hallum restated a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Susquehanna increased their price target on Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a research note on Thursday, April 30th. B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, April 30th. Finally, Roth Mkm restated a “buy” rating and issued a $250.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. 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 company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $246.43.

Hedge Funds Weigh In On Silicon Motion Technology

Hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. bought a new position in shares of Silicon Motion Technology during the third quarter worth $26,000. WealthCollab LLC increased its holdings in 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 acquiring an additional 151 shares during the last quarter. Arax Advisory Partners increased its holdings in Silicon Motion Technology by 220.9% in the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock valued at $41,000 after acquiring an additional 307 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Silicon Motion Technology by 169.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 366 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in Silicon Motion Technology in the 4th quarter worth $71,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

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.