Calamos Advisors LLC Takes $2.69 Million Position in Silicon Motion Technology Corporation $SIMO

Calamos Advisors LLC acquired a new stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,923 shares of the semiconductor producer’s stock, valued at approximately $2,686,000. Calamos Advisors LLC owned 0.07% of Silicon Motion Technology as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Schwartz Investment Counsel Inc. grew its stake in Silicon Motion Technology by 36.4% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 300,000 shares of the semiconductor producer’s stock valued at $33,687,000 after buying an additional 80,000 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Silicon Motion Technology in the first quarter valued at approximately $4,827,000. AIGH Capital Management LLC acquired a new position in shares of Silicon Motion Technology in the first quarter valued at approximately $22,458,000. Hardy Reed LLC increased its stake in shares of Silicon Motion Technology by 3.4% during the first quarter. Hardy Reed LLC now owns 5,010 shares of the semiconductor producer’s stock worth $563,000 after purchasing an additional 166 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of Silicon Motion Technology by 321.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 39,350 shares of the semiconductor producer’s stock worth $4,419,000 after purchasing an additional 30,022 shares during the period. 78.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SIMO has been the subject of several recent research reports. Roth Capital restated a “buy” rating and issued a $250.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, April 29th. Craig Hallum reiterated a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Wedbush boosted their target price on shares of Silicon Motion Technology from $230.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen downgraded shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $246.43.

Silicon Motion Technology Stock Performance

Shares of NASDAQ SIMO opened at $293.40 on Thursday. Silicon Motion Technology Corporation has a 52 week low of $70.12 and a 52 week high of $355.00. The stock has a market capitalization of $9.95 billion, a P/E ratio of 58.33, a PEG ratio of 0.68 and a beta of 1.70. The stock’s fifty day moving average is $289.02 and its 200 day moving average is $183.94.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $342.11 million during the quarter, compared to the consensus estimate of $299.53 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Silicon Motion Technology’s revenue for the quarter was up 105.5% compared to the same quarter last year. Equities research analysts forecast that Silicon Motion Technology Corporation will post 8.48 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 transaction of $610,000.00. Following the completion of the sale, the director directly owned 8,500 shares in the company, valued at $2,592,500. This represents a 19.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Han-Ping Shieh sold 1,000 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 7,500 shares in the company, valued at $2,460,000. This trade represents a 11.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,000 shares of company stock worth $1,239,250 over the last three months. 5.34% of the stock is currently owned by insiders.

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.