Kuan-Ming Lin Sells 2,000 Shares of Silicon Motion Technology (NASDAQ:SIMO) Stock

Silicon Motion Technology Corporation (NASDAQ:SIMO) Director Kuan-Ming Lin sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 8,500 shares of the company’s stock, valued at $2,592,500. The trade was a 19.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Silicon Motion Technology Stock Up 1.1%

Shares of NASDAQ SIMO opened at $325.26 on Friday. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 64.66, a PEG ratio of 0.72 and a beta of 1.72. Silicon Motion Technology Corporation has a 52-week low of $70.12 and a 52-week high of $355.00. The business’s 50 day moving average is $248.67 and its two-hundred day moving average is $162.01.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, topping 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 company had revenue of $342.11 million for the quarter, compared to analysts’ expectations of $299.53 million. During the same period in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue was up 105.5% compared to the same quarter last year. Analysts anticipate that Silicon Motion Technology Corporation will post 8.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen raised Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Roth Mkm reissued a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Wedbush raised their price objective on shares of Silicon Motion Technology from $230.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday. Susquehanna lifted their price objective on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a report on Thursday, April 30th. Finally, 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. One 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $246.43.

Trending Headlines about 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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in Silicon Motion Technology by 87.6% during the first quarter. Royal Bank of Canada now owns 69,660 shares of the semiconductor producer’s stock worth $3,522,000 after purchasing an additional 32,527 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Silicon Motion Technology by 155.0% in the first quarter. Goldman Sachs Group Inc. now owns 73,988 shares of the semiconductor producer’s stock valued at $3,741,000 after purchasing an additional 44,976 shares in the last quarter. Geode Capital Management LLC raised its holdings in Silicon Motion Technology by 2.6% during the second quarter. Geode Capital Management LLC now owns 37,806 shares of the semiconductor producer’s stock worth $2,842,000 after purchasing an additional 962 shares in the last quarter. Creative Planning acquired a new stake in Silicon Motion Technology during the second quarter worth approximately $324,000. Finally, Legal & General Group Plc lifted its position in shares of Silicon Motion Technology by 141.4% during the 2nd quarter. Legal & General Group Plc now owns 9,738 shares of the semiconductor producer’s stock worth $732,000 after buying an additional 5,704 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Company Profile

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.