Silicon Motion Technology Corporation $SIMO is Systematic Financial Management LP’s 10th Largest Position

Systematic Financial Management LP lessened its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 506,725 shares of the semiconductor producer’s stock after selling 76,101 shares during the quarter. Silicon Motion Technology accounts for about 1.3% of Systematic Financial Management LP’s portfolio, making the stock its 10th largest holding. Systematic Financial Management LP’s holdings in Silicon Motion Technology were worth $56,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Silicon Motion Technology in the third quarter worth about $26,000. WealthCollab LLC raised its position in Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock valued at $32,000 after acquiring an additional 151 shares in the last quarter. Arax Advisory Partners raised its position in Silicon Motion Technology by 220.9% during the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock valued at $41,000 after acquiring an additional 307 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Silicon Motion Technology by 169.4% in the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after acquiring an additional 366 shares during the period. Finally, MeadowBrook Investment Advisors LLC acquired a new position in Silicon Motion Technology in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Insider Activity at Silicon Motion Technology

In other news, Director Kuan-Ming Lin sold 2,000 shares of the firm’s stock in a transaction that occurred 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 owned 8,500 shares in the company, valued at $2,592,500. This trade represents a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Han-Ping Shieh sold 1,000 shares of Silicon Motion Technology stock in a transaction that occurred on Thursday, June 18th. The stock was 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 represents a 11.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,000 shares of company stock worth $1,239,250. Company insiders own 5.34% of the company’s stock.

Silicon Motion Technology Stock Up 2.6%

SIMO opened at $289.08 on Friday. Silicon Motion Technology Corporation has a twelve month low of $71.35 and a twelve month high of $355.00. The company has a 50-day moving average price of $290.77 and a 200 day moving average price of $191.61. The company has a market cap of $9.80 billion, a PE ratio of 57.47, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the firm posted $0.60 EPS. Silicon Motion Technology’s revenue was up 105.5% compared to the same quarter last year. As a group, sell-side analysts expect that Silicon Motion Technology Corporation will post 8.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

SIMO has been the topic of several recent research reports. Susquehanna upped their price objective on Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a research report on Thursday, April 30th. 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. B. Riley Financial reiterated a “buy” rating 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 report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Silicon Motion Technology presently has a consensus rating of “Buy” and an average price target of $246.43.

Silicon Motion Technology 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.