Key Points
- Director Han-Ping Shieh sold 1,000 shares of Silicon Motion Technology on June 2 at an average price of $301.25, totaling $301,250. After the sale, he still owned 7,656 shares.
- The company reported strong quarterly results, posting EPS of $1.58 versus the $1.31 consensus estimate and revenue of $342.11 million, up 105.5% year over year.
- Wall Street sentiment remains upbeat, with several analysts raising targets and the stock carrying a consensus Buy rating and average target price of $246.43.
Silicon Motion Technology Corporation (NASDAQ:SIMO - Get Free Report) Director Han-Ping Shieh sold 1,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $301.25, for a total transaction of $301,250.00. Following the completion of the sale, the director directly owned 7,656 shares in the company, valued at approximately $2,306,370. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
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 Up 0.8%
Shares of NASDAQ SIMO opened at $321.66 on Thursday. The business's 50 day moving average price is $244.77 and its two-hundred day moving average price is $160.37. The company has a market cap of $10.91 billion, a PE ratio of 63.95, a price-to-earnings-growth ratio of 0.71 and a beta of 1.72. Silicon Motion Technology Corporation has a twelve month low of $70.12 and a twelve month high of $355.00.
Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $299.53 million. During the same period in the previous year, the company posted $0.60 EPS. The firm's revenue for the quarter was up 105.5% compared to the same quarter last year. As a group, research analysts anticipate that Silicon Motion Technology Corporation will post 8.35 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Zacks Research upgraded shares of Silicon Motion Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. Craig Hallum restated a "buy" rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Wedbush boosted their price objective on Silicon Motion Technology from $230.00 to $400.00 and gave the stock an "outperform" rating in a report on Monday. B. Riley Financial reaffirmed a "buy" rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Finally, Susquehanna increased their target price on Silicon Motion Technology from $175.00 to $275.00 and gave the stock a "positive" rating in a research note on Thursday, April 30th. One 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 company. According to MarketBeat, Silicon Motion Technology has a consensus rating of "Buy" and a consensus target price of $246.43.
Check Out Our Latest Stock Analysis on Silicon Motion Technology
Institutional Trading of Silicon Motion Technology
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wolf Hill Capital Management LP acquired a new position in shares of Silicon Motion Technology during the 4th quarter worth approximately $53,893,000. Hawk Ridge Capital Management LP grew its position in Silicon Motion Technology by 111.3% during the fourth 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 increased its stake 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 acquiring an additional 339,663 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in 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 acquiring an additional 225,221 shares during the period. Finally, AIGH Capital Management LLC acquired a new position in Silicon Motion Technology in the 1st quarter valued at $22,458,000. Institutional investors and hedge funds own 78.02% of the company's stock.
Silicon Motion Technology Company Profile
(
Get Free Report)
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.
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