Silicon Motion Technology Corporation $SIMO Shares Sold by Skylands Capital LLC

Skylands Capital LLC cut its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,169 shares of the semiconductor producer’s stock after selling 4,050 shares during the quarter. Skylands Capital LLC’s holdings in Silicon Motion Technology were worth $5,521,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Silicon Motion Technology by 87.6% in the first quarter. Royal Bank of Canada now owns 69,660 shares of the semiconductor producer’s stock valued at $3,522,000 after acquiring an additional 32,527 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake 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 acquiring an additional 44,976 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Silicon Motion Technology by 2.6% during the second quarter. Geode Capital Management LLC now owns 37,806 shares of the semiconductor producer’s stock worth $2,842,000 after purchasing an additional 962 shares in the last quarter. Creative Planning purchased a new stake in shares of Silicon Motion Technology during the second quarter worth approximately $324,000. Finally, Legal & General Group Plc raised its stake in Silicon Motion Technology by 141.4% in the 2nd quarter. Legal & General Group Plc now owns 9,738 shares of the semiconductor producer’s stock valued at $732,000 after purchasing an additional 5,704 shares during the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Silicon Motion Technology Stock Performance

Shares of Silicon Motion Technology stock opened at $305.28 on Friday. The business’s 50 day moving average price is $252.00 and its 200 day moving average price is $163.02. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 60.69, a PEG ratio of 0.68 and a beta of 1.72. 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 issued its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $342.11 million during the quarter, compared to analysts’ expectations of $299.53 million. During the same period in the prior year, the business earned $0.60 EPS. The firm’s quarterly revenue was up 105.5% on a year-over-year basis. On average, analysts predict that Silicon Motion Technology Corporation will post 8.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SIMO shares. B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, April 30th. Craig Hallum reiterated a “buy” rating and issued a $250.00 target price on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Wall Street Zen raised shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. JPMorgan Chase & Co. boosted their price target 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. Finally, Weiss Ratings cut shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $246.43.

Insider Buying and Selling at Silicon Motion Technology

In other news, 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 transaction of $610,000.00. Following the transaction, the director owned 8,500 shares of the company’s stock, valued at approximately $2,592,500. The trade was a 19.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Han-Ping Shieh sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $328.00, for a total transaction of $328,000.00. Following the completion of the sale, the director directly owned 7,500 shares of the company’s stock, valued at $2,460,000. This represents a 11.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 4,000 shares of company stock worth $1,239,250. Insiders own 5.34% 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.