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

Silicon Motion Technology Corporation (NASDAQ:SIMO) Director Han-Ping Shieh sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $301.25, for a total transaction of $301,250.00. Following the completion of the transaction, the director directly owned 7,656 shares of the company’s stock, valued at $2,306,370. This trade represents a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, June 18th, Han-Ping Shieh sold 1,000 shares of Silicon Motion Technology stock. The stock was sold at an average price of $328.00, for a total value of $328,000.00.

Silicon Motion Technology Stock Down 1.9%

Shares of NASDAQ SIMO traded down $5.92 during mid-day trading on Wednesday, reaching $313.08. 163,839 shares of the company were exchanged, compared to its average volume of 847,468. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 62.24, a P/E/G ratio of 0.78 and a beta of 1.72. Silicon Motion Technology Corporation has a 1 year low of $70.12 and a 1 year high of $355.00. The firm has a 50-day moving average of $240.86 and a 200 day moving average of $158.75.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share 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 company had revenue of $342.11 million for the quarter, compared to the consensus estimate of $299.53 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 105.5% compared to the same quarter last year. On average, equities analysts forecast that Silicon Motion Technology Corporation will post 8.06 earnings per share for the current year.

Analysts Set New Price Targets

SIMO has been the topic of a number of analyst reports. Wedbush lifted their price objective on shares of Silicon Motion Technology from $230.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday. Susquehanna raised their target price on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a research note on Thursday, April 30th. Craig Hallum reaffirmed a “buy” rating and issued a $250.00 price target on shares of Silicon Motion Technology in a report on Thursday, April 30th. Roth Mkm reaffirmed a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. 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. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $246.43.

Institutional Trading of Silicon Motion Technology

Institutional investors have recently bought and sold shares of the stock. Reinhart Partners LLC. grew its position in Silicon Motion Technology by 4.8% during the 4th quarter. Reinhart Partners LLC. now owns 1,573,355 shares of the semiconductor producer’s stock worth $145,851,000 after purchasing an additional 72,421 shares during the last quarter. Pertento Partners LLP raised its holdings in shares of Silicon Motion Technology by 2.5% in the third quarter. Pertento Partners LLP now owns 1,290,409 shares of the semiconductor producer’s stock worth $122,344,000 after buying an additional 31,405 shares during the last quarter. Hawk Ridge Capital Management LP lifted its stake in shares of Silicon Motion Technology by 48.9% during the first quarter. Hawk Ridge Capital Management LP now owns 1,173,315 shares of the semiconductor producer’s stock worth $131,752,000 after buying an additional 385,568 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Silicon Motion Technology by 2.3% during the third quarter. Lazard Asset Management LLC now owns 783,663 shares of the semiconductor producer’s stock worth $74,299,000 after buying an additional 17,741 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Silicon Motion Technology by 40.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 623,953 shares of the semiconductor producer’s stock valued at $57,840,000 after buying an additional 181,206 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

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.