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

Silicon Motion Technology Corporation (NASDAQ:SIMO) Director Han-Ping Shieh sold 1,000 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $328.00, for a total transaction of $328,000.00. Following the completion of the sale, the director owned 7,500 shares in the company, valued at approximately $2,460,000. This trade represents a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 shares were sold at an average price of $301.25, for a total transaction of $301,250.00.

Silicon Motion Technology Stock Up 0.8%

SIMO opened at $321.66 on Thursday. The stock has a market cap of $10.91 billion, a P/E ratio of 63.95, a P/E/G ratio of 0.71 and a beta of 1.72. Silicon Motion Technology Corporation has a 12 month low of $70.12 and a 12 month high of $355.00. The company has a fifty day simple moving average of $244.77 and a 200 day simple moving average of $160.37.

Silicon Motion Technology (NASDAQ:SIMO) last posted 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. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The firm had revenue of $342.11 million during the quarter, compared to analysts’ expectations of $299.53 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 105.5% on a year-over-year basis. On average, equities research analysts expect that Silicon Motion Technology Corporation will post 8.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SIMO has been the subject of a number of research reports. Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Roth Mkm reissued a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Weiss Ratings lowered shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $246.43.

Institutional Investors Weigh In On Silicon Motion Technology

Several institutional investors have recently bought and sold shares of SIMO. Brown Brothers Harriman & Co. acquired a new position in Silicon Motion Technology during the 3rd quarter worth approximately $26,000. WealthCollab LLC raised its holdings in shares of Silicon Motion Technology by 77.4% in the fourth 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. Arax Advisory Partners lifted its position in shares of Silicon Motion Technology by 220.9% in the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock worth $41,000 after purchasing an additional 307 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Silicon Motion Technology by 169.4% in the second 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 acquired a new position in Silicon Motion Technology during the fourth quarter worth $71,000. 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.