Public Employees Retirement System of Ohio Takes $11.78 Million Position in Silicon Motion Technology Corporation $SIMO

Public Employees Retirement System of Ohio acquired a new position in Silicon Motion Technology Corporation (NASDAQ:SIMO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 35,330 shares of the semiconductor producer’s stock, valued at approximately $11,777,000. Public Employees Retirement System of Ohio owned about 0.10% of Silicon Motion Technology at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in shares of Silicon Motion Technology by 87.6% during the 1st quarter. Royal Bank of Canada now owns 69,660 shares of the semiconductor producer’s stock worth $3,522,000 after acquiring an additional 32,527 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Silicon Motion Technology by 155.0% in the first quarter. Goldman Sachs Group Inc. now owns 73,988 shares of the semiconductor producer’s stock worth $3,741,000 after buying an additional 44,976 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Silicon Motion Technology by 2.6% in the second quarter. Geode Capital Management LLC now owns 37,806 shares of the semiconductor producer’s stock worth $2,842,000 after buying an additional 962 shares during the period. Creative Planning purchased a new position in shares of Silicon Motion Technology in the second quarter worth approximately $324,000. Finally, Legal & General Group Plc increased its position in shares of Silicon Motion Technology by 141.4% in the second quarter. Legal & General Group Plc now owns 9,738 shares of the semiconductor producer’s stock worth $732,000 after acquiring an additional 5,704 shares in the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.

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 transaction, the director owned 7,500 shares in the company, valued at $2,460,000. The trade was a 11.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kuan-Ming Lin sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was 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 in the company, valued at approximately $2,592,500. The trade was a 19.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 4,000 shares of company stock valued at $1,239,250. Insiders own 5.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SIMO. B. Riley Financial raised their price objective on shares of Silicon Motion Technology from $312.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Craig Hallum restated a “buy” rating and issued a $325.00 target price on shares of Silicon Motion Technology in a report on Friday, July 31st. Wall Street Zen cut Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research upgraded Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Wedbush upped their price target on Silicon Motion Technology from $230.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $341.43.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock opened at $245.81 on Monday. Silicon Motion Technology Corporation has a twelve month low of $77.22 and a twelve month high of $355.00. The firm has a market cap of $8.33 billion, a PE ratio of 28.82, a P/E/G ratio of 0.43 and a beta of 1.71. The firm’s 50 day moving average price is $275.85 and its two-hundred day moving average price is $215.97.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly 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. Silicon Motion Technology had a net margin of 22.06% and a return on equity of 32.04%. The business had revenue of $451.00 million for the quarter, compared to analysts’ expectations of $403.41 million. During the same period in the previous year, the company posted $0.69 EPS. Silicon Motion Technology’s revenue was up 127.0% on a year-over-year basis. Equities analysts anticipate that Silicon Motion Technology Corporation will post 10.78 EPS for the current fiscal year.

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.