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

Skylands Capital LLC lowered its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,169 shares of the semiconductor producer’s stock after selling 4,050 shares during the quarter. Skylands Capital LLC owned 0.14% of Silicon Motion Technology worth $5,521,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new position in Silicon Motion Technology during the third quarter valued at $26,000. WealthCollab LLC grew its position in Silicon Motion Technology by 77.4% during the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after purchasing an additional 151 shares during the period. Arax Advisory Partners grew its position in Silicon Motion Technology by 220.9% during the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock worth $41,000 after purchasing an additional 307 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Silicon Motion Technology by 169.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after buying an additional 366 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of Silicon Motion Technology during the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Performance

Shares of Silicon Motion Technology stock opened at $305.28 on Friday. The firm has a 50-day simple moving average of $252.00 and a two-hundred day simple moving average of $163.02. Silicon Motion Technology Corporation has a fifty-two week low of $70.12 and a fifty-two week high of $355.00. The company has a market cap of $10.35 billion, a P/E ratio of 60.69, a price-to-earnings-growth ratio of 0.68 and a beta of 1.72.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.27. The firm had revenue of $342.11 million for the quarter, compared to analysts’ expectations of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The company’s quarterly revenue was up 105.5% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. Equities research analysts forecast that Silicon Motion Technology Corporation will post 8.35 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Silicon Motion Technology

In other news, Director Kuan-Ming Lin sold 2,000 shares of the business’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 value of $610,000.00. Following the completion of the sale, the director directly owned 8,500 shares in the company, valued at $2,592,500. The trade was a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Han-Ping Shieh sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were 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. This trade represents a 11.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 4,000 shares of company stock worth $1,239,250. 5.34% of the stock is owned by corporate insiders.

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.