Mirador Capital Partners LP Purchases New Holdings in Silicon Motion Technology Corporation $SIMO

Mirador Capital Partners LP purchased a new stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 8,724 shares of the semiconductor producer’s stock, valued at approximately $2,908,000.

Several other institutional investors have also recently made changes to their positions in SIMO. Cooper Investors PTY Ltd. bought a new stake in shares of Silicon Motion Technology during the 2nd quarter worth approximately $34,000. Brown Brothers Harriman & Co. acquired a new position in Silicon Motion Technology during the third quarter worth $26,000. WealthCollab LLC increased its holdings in Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after buying an additional 151 shares during the last quarter. Arax Advisory Partners raised its position in Silicon Motion Technology by 220.9% during the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock worth $41,000 after acquiring an additional 307 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Silicon Motion Technology by 169.4% during the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after acquiring an additional 366 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SIMO. Craig Hallum reissued a “buy” rating and issued a $325.00 price objective on shares of Silicon Motion Technology in a research report on Friday, July 31st. Needham & Company LLC upped their target price on shares of Silicon Motion Technology from $240.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Silicon Motion Technology in a report on Monday. JPMorgan Chase & Co. lifted their price target on Silicon Motion Technology from $145.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, B. Riley Financial raised their price objective on Silicon Motion Technology from $312.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One investment 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 data from MarketBeat, the company has an average rating of “Buy” and an average target price of $341.43.

Insider Transactions at Silicon Motion Technology

In other news, Director Han-Ping Shieh sold 1,000 shares of the business’s stock in a transaction that occurred 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 $2,460,000. The trade was a 11.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the director owned 8,500 shares of the company’s stock, valued at approximately $2,592,500. This represents a 19.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 4,000 shares of company stock worth $1,239,250. 5.34% of the stock is owned by company insiders.

Silicon Motion Technology Price Performance

NASDAQ:SIMO opened at $246.65 on Thursday. Silicon Motion Technology Corporation has a one year low of $71.35 and a one year high of $355.00. The company has a market cap of $8.36 billion, a P/E ratio of 28.92, a P/E/G ratio of 0.56 and a beta of 1.71. The firm’s fifty day moving average price is $287.17 and its two-hundred day moving average price is $200.23.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Wednesday, July 29th. The semiconductor producer reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.30. The company had revenue of $451.00 million for the quarter, compared to analyst estimates of $403.41 million. Silicon Motion Technology had a net margin of 22.06% and a return on equity of 32.04%. The company’s revenue was up 127.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. As a group, equities research analysts expect that Silicon Motion Technology Corporation will post 9.01 earnings per share for the current year.

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.