ABN Amro Investment Solutions Sells 33,735 Shares of Silicon Motion Technology Corporation $SIMO

ABN Amro Investment Solutions lessened its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 31.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,116 shares of the semiconductor producer’s stock after selling 33,735 shares during the quarter. ABN Amro Investment Solutions’ holdings in Silicon Motion Technology were worth $8,210,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS acquired a new stake in Silicon Motion Technology in the first quarter worth about $4,827,000. Schwartz Investment Counsel Inc. lifted its position in Silicon Motion Technology by 36.4% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 300,000 shares of the semiconductor producer’s stock valued at $33,687,000 after purchasing an additional 80,000 shares during the period. AIGH Capital Management LLC acquired a new position in Silicon Motion Technology during the 1st quarter valued at about $22,458,000. Calamos Advisors LLC acquired a new position in Silicon Motion Technology during the 1st quarter valued at about $2,686,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Silicon Motion Technology in the 1st quarter valued at about $496,000. Institutional investors own 78.02% of the company’s stock.

Insider Buying and Selling at Silicon Motion Technology

In other Silicon Motion Technology news, Director Kuan-Ming Lin sold 2,000 shares of Silicon Motion Technology stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $305.00, for a total transaction 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Han-Ping Shieh sold 1,000 shares of the business’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 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,000 shares of company stock worth $1,239,250 in the last ninety days. 5.34% of the stock is currently owned by company insiders.

Silicon Motion Technology Stock Performance

Shares of NASDAQ:SIMO opened at $281.68 on Thursday. Silicon Motion Technology Corporation has a 52 week low of $71.35 and a 52 week high of $355.00. The company has a market capitalization of $9.55 billion, a PE ratio of 56.00, a PEG ratio of 0.61 and a beta of 1.70. The company has a 50 day moving average price of $290.26 and a two-hundred day moving average price of $190.24.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, topping 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 company had revenue of $342.11 million for the quarter, compared to analysts’ expectations of $299.53 million. During the same period last year, the firm posted $0.60 earnings per share. The business’s quarterly revenue was up 105.5% compared to the same quarter last year. On average, sell-side analysts forecast that Silicon Motion Technology Corporation will post 8.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Roth Capital reiterated a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. 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. 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. Wall Street Zen lowered shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Silicon Motion Technology has a consensus 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.