23,923 Shares in Silicon Motion Technology Corporation $SIMO Acquired by Calamos Advisors LLC

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

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new position in shares of Silicon Motion Technology during the third quarter worth $26,000. WealthCollab LLC boosted its holdings in shares of Silicon Motion Technology by 77.4% during the 4th 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 boosted its holdings in shares of Silicon Motion Technology by 220.9% during the 4th 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 grew its position in Silicon Motion Technology by 169.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after acquiring an additional 366 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new stake in Silicon Motion Technology during the 4th quarter worth $71,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Stock Down 4.9%

NASDAQ SIMO opened at $293.40 on Thursday. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 58.33, a PEG ratio of 0.68 and a beta of 1.70. Silicon Motion Technology Corporation has a twelve month low of $70.12 and a twelve month high of $355.00. The stock has a fifty day simple moving average of $289.02 and a 200 day simple moving average of $183.94.

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

Insider Transactions at Silicon Motion Technology

In other news, Director Kuan-Ming Lin sold 2,000 shares of the firm’s 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 completion of the transaction, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director directly owned 7,500 shares in the company, valued at approximately $2,460,000. This represents a 11.76% 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 over the last 90 days. 5.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SIMO has been the subject of several research reports. Wall Street Zen downgraded Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Wedbush boosted their price target on Silicon Motion Technology from $230.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. 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. Susquehanna raised 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, B. Riley Financial reiterated a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $246.43.

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.