SG Americas Securities LLC Cuts Stock Position in Silicon Motion Technology Corporation $SIMO

SG Americas Securities LLC decreased its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 86.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,172 shares of the semiconductor producer’s stock after selling 14,118 shares during the period. SG Americas Securities LLC’s holdings in Silicon Motion Technology were worth $244,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Rockefeller Capital Management L.P. grew its holdings in shares of Silicon Motion Technology by 25.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,068 shares of the semiconductor producer’s stock valued at $563,000 after purchasing an additional 1,228 shares in the last quarter. Pacer Advisors Inc. boosted its position in Silicon Motion Technology by 80.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,357 shares of the semiconductor producer’s stock valued at $311,000 after buying an additional 1,492 shares during the period. XTX Topco Ltd acquired a new position in shares of Silicon Motion Technology in the fourth quarter worth $2,953,000. Voloridge Investment Management LLC purchased a new stake in shares of Silicon Motion Technology during the fourth quarter worth $10,425,000. Finally, Sora Investors LLC raised its stake in shares of Silicon Motion Technology by 79.2% in the fourth quarter. Sora Investors LLC now owns 128,221 shares of the semiconductor producer’s stock valued at $11,886,000 after acquiring an additional 56,687 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Price Performance

Shares of SIMO opened at $326.35 on Friday. Silicon Motion Technology Corporation has a 1-year low of $70.12 and a 1-year high of $355.00. The stock has a market cap of $11.07 billion, a PE ratio of 64.88, a price-to-earnings-growth ratio of 0.71 and a beta of 1.70. The firm has a fifty day moving average price of $285.03 and a 200 day moving average price of $178.85.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data 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. The company had revenue of $342.11 million during the quarter, compared to the consensus estimate of $299.53 million. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. Silicon Motion Technology’s revenue for the quarter was up 105.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, equities analysts expect that Silicon Motion Technology Corporation will post 8.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SIMO shares. Wall Street Zen lowered Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. 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. Craig Hallum restated a “buy” rating and issued a $250.00 price objective on shares of Silicon Motion Technology in a report on Thursday, April 30th. Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Roth Capital reissued a “buy” rating and issued a $250.00 target price on shares of Silicon Motion Technology in a report on Wednesday, April 29th. One 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $246.43.

Insider Activity

In related news, Director Kuan-Ming Lin sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was 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 in the company, valued at $2,592,500. This trade represents a 19.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Han-Ping Shieh sold 1,000 shares of Silicon Motion Technology stock in a transaction that occurred on 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 directly owned 7,500 shares in the company, valued at approximately $2,460,000. This trade represents a 11.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,000 shares of company stock valued at $1,239,250 over the last three months. Company insiders own 5.34% 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.