4,420 Shares in Silicon Motion Technology Corporation $SIMO Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,420 shares of the semiconductor producer’s stock, valued at approximately $496,000.

Other hedge funds also recently bought and sold shares of the company. Reinhart Partners LLC. grew its holdings in shares of Silicon Motion Technology by 4.8% in the fourth quarter. Reinhart Partners LLC. now owns 1,573,355 shares of the semiconductor producer’s stock worth $145,851,000 after purchasing an additional 72,421 shares during the last quarter. Pertento Partners LLP increased its holdings in Silicon Motion Technology by 2.5% during the 3rd quarter. Pertento Partners LLP now owns 1,290,409 shares of the semiconductor producer’s stock worth $122,344,000 after purchasing an additional 31,405 shares during the period. Hawk Ridge Capital Management LP increased its holdings 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 purchasing an additional 415,000 shares during the period. Lazard Asset Management LLC raised its position in Silicon Motion Technology by 2.3% during the 3rd quarter. Lazard Asset Management LLC now owns 783,663 shares of the semiconductor producer’s stock valued at $74,299,000 after purchasing an additional 17,741 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Silicon Motion Technology by 40.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 623,953 shares of the semiconductor producer’s stock worth $57,840,000 after buying an additional 181,206 shares in the last quarter. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Performance

Shares of Silicon Motion Technology stock opened at $313.30 on Thursday. The company has a market capitalization of $10.62 billion, a PE ratio of 62.29, a P/E/G ratio of 0.66 and a beta of 1.70. The company has a 50-day simple moving average of $279.36 and a two-hundred day simple moving average of $176.16. Silicon Motion Technology Corporation has a one year low of $70.12 and a one year high of $355.00.

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

Insider Buying and Selling

In other Silicon Motion Technology news, Director Han-Ping Shieh sold 1,000 shares of Silicon Motion Technology stock in a transaction 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 directly owned 7,500 shares of the company’s stock, valued at approximately $2,460,000. The trade was a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kuan-Ming Lin sold 2,000 shares of the company’s stock in a transaction 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 transaction, the director directly owned 8,500 shares in the company, valued at approximately $2,592,500. The trade was a 19.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,000 shares of company stock valued at $1,239,250 in the last three months. 5.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SIMO shares. B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, April 30th. Craig Hallum reaffirmed a “buy” rating and issued a $250.00 price target on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. upped their target price 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, Roth Capital restated a “buy” rating and set a $250.00 target price on shares of Silicon Motion Technology in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $246.43.

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.