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 company’s 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 completion of the transaction, the director directly owned 7,500 shares of the company’s stock, valued at $2,460,000. This represents a 11.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, June 2nd, Han-Ping Shieh sold 1,000 shares of Silicon Motion Technology stock. The stock was sold at an average price of $301.25, for a total transaction of $301,250.00.

Silicon Motion Technology Price Performance

SIMO opened at $325.26 on Friday. Silicon Motion Technology Corporation has a fifty-two week low of $70.12 and a fifty-two week high of $355.00. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 64.66, a PEG ratio of 0.72 and a beta of 1.72. The company’s 50 day moving average price is $248.67 and its two-hundred day moving average price is $162.01.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. grew its holdings in Silicon Motion Technology by 2.3% in the first quarter. Assetmark Inc. now owns 2,814 shares of the semiconductor producer’s stock worth $316,000 after purchasing an additional 63 shares during the period. Wedbush Securities Inc. boosted its position in shares of Silicon Motion Technology by 1.7% during the 4th quarter. Wedbush Securities Inc. now owns 4,685 shares of the semiconductor producer’s stock worth $434,000 after purchasing an additional 79 shares in the last quarter. NewEdge Wealth LLC boosted its position in shares of Silicon Motion Technology by 3.6% during the 4th quarter. NewEdge Wealth LLC now owns 2,631 shares of the semiconductor producer’s stock worth $244,000 after purchasing an additional 91 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Silicon Motion Technology by 2.8% in the 4th quarter. Ballentine Partners LLC now owns 4,006 shares of the semiconductor producer’s stock valued at $371,000 after buying an additional 110 shares during the period. Finally, Penn Capital Management Company LLC grew its stake in shares of Silicon Motion Technology by 2.3% in the 3rd quarter. Penn Capital Management Company LLC now owns 5,821 shares of the semiconductor producer’s stock valued at $552,000 after buying an additional 132 shares during the period. 78.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SIMO shares. Susquehanna upped their price target on Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. Craig Hallum reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, April 30th. Weiss Ratings cut Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Roth Mkm restated a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a report on Wednesday, April 29th. Finally, B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $246.43.

Key Stories Impacting Silicon Motion Technology

Here are the key news stories impacting Silicon Motion Technology this week:

• Positive Sentiment: Analysts remain broadly bullish on Silicon Motion Technology, with recent reports including upgrades and higher price targets; Wedbush lifted its target to $400 and kept an outperform rating, while the consensus view stays at Buy. Article title
• Positive Sentiment: Investor interest remains elevated, with the stock appearing on momentum and trending-stock lists, reflecting strong market attention after a powerful run. Article title
• Positive Sentiment: The company’s recent earnings results were strong, with EPS and revenue both beating expectations and revenue more than doubling year over year, supporting the stock’s upward momentum. Article title
• Neutral Sentiment: Short-interest data showed no meaningful short position, so it does not add much either way to the near-term stock move.
• Negative Sentiment: Director Han-Ping Shieh sold 1,000 shares in an SEC-reported transaction, and another director, Kuan-Ming Lin, sold 2,000 shares earlier this month. Insider selling can create some caution around the stock. Article title

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.