Public Employees Retirement System of Ohio Has $5.28 Million Holdings in Silicon Motion Technology Corporation $SIMO

Public Employees Retirement System of Ohio lifted its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 14.2% during the first quarter, HoldingsChannel.com reports. The firm owned 46,978 shares of the semiconductor producer’s stock after purchasing an additional 5,826 shares during the period. Public Employees Retirement System of Ohio’s holdings in Silicon Motion Technology were worth $5,275,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SIMO. Wolf Hill Capital Management LP bought a new position in Silicon Motion Technology in the fourth quarter valued at $53,893,000. Hawk Ridge Capital Management LP lifted its position in Silicon Motion Technology by 111.3% during the 4th quarter. Hawk Ridge Capital Management LP now owns 787,747 shares of the semiconductor producer’s stock worth $73,024,000 after buying an additional 415,000 shares in the last quarter. Man Group plc lifted its position in Silicon Motion Technology by 820.7% during the 4th quarter. Man Group plc now owns 381,048 shares of the semiconductor producer’s stock worth $35,323,000 after buying an additional 339,663 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Silicon Motion Technology by 112.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 425,697 shares of the semiconductor producer’s stock worth $47,802,000 after buying an additional 225,221 shares during the last quarter. Finally, AIGH Capital Management LLC acquired a new position in shares of Silicon Motion Technology during the 1st quarter worth about $22,458,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Insider Buying and Selling at Silicon Motion Technology

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Roth Capital reaffirmed a “buy” rating and issued a $250.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Zacks Research upgraded Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Craig Hallum reaffirmed a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Silicon Motion Technology has an average rating of “Buy” and an average price target of $246.43.

Silicon Motion Technology Stock Down 5.3%

NASDAQ:SIMO opened at $209.68 on Thursday. The stock’s 50 day moving average price is $289.48 and its two-hundred day moving average price is $195.24. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 41.69, a P/E/G ratio of 0.49 and a beta of 1.70. Silicon Motion Technology Corporation has a 12-month low of $71.35 and a 12-month high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor producer reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The company had revenue of $451.00 million during the quarter, compared to analysts’ expectations of $403.41 million. During the same period last year, the firm posted $0.69 earnings per share. The business’s revenue was up 127.0% on a year-over-year basis. Equities research analysts expect that Silicon Motion Technology Corporation will post 8.48 EPS 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.