Public Employees Retirement System of Ohio Acquires 5,826 Shares of Silicon Motion Technology Corporation $SIMO

Public Employees Retirement System of Ohio boosted its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 14.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 46,978 shares of the semiconductor producer’s stock after acquiring an additional 5,826 shares during the period. Public Employees Retirement System of Ohio owned 0.14% of Silicon Motion Technology worth $5,275,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in shares of Silicon Motion Technology in the 3rd quarter valued at $26,000. WealthCollab LLC boosted its position in shares of Silicon Motion Technology by 77.4% in the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Arax Advisory Partners grew its stake in shares of Silicon Motion Technology by 220.9% during the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock worth $41,000 after purchasing an additional 307 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Silicon Motion Technology by 169.4% during the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 366 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Silicon Motion Technology in the second quarter valued at about $75,000. Institutional investors own 78.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Roth Capital reissued a “buy” rating and issued a $250.00 target price on shares of Silicon Motion Technology in a research note on Wednesday, April 29th. Zacks Research upgraded Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings cut Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Craig Hallum reissued a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Silicon Motion Technology presently has an average rating of “Buy” and an average price target of $246.43.

Silicon Motion Technology Stock Performance

NASDAQ SIMO opened at $209.68 on Thursday. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 41.69, a PEG ratio of 0.49 and a beta of 1.70. The business has a 50 day simple moving average of $289.48 and a 200 day simple moving average of $195.24. Silicon Motion Technology Corporation has a 52-week low of $71.35 and a 52-week high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Wednesday, July 29th. The semiconductor producer reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The firm had revenue of $451.00 million for the quarter, compared to analyst estimates of $403.41 million. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The business’s revenue was up 127.0% on a year-over-year basis. On average, analysts predict that Silicon Motion Technology Corporation will post 8.48 EPS for the current year.

Insider Buying and Selling at Silicon Motion Technology

In related news, Director Han-Ping Shieh sold 1,000 shares of the company’s stock in a transaction on 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. This represents a 11.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kuan-Ming Lin sold 2,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,592,500. This trade represents a 19.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,000 shares of company stock worth $1,239,250 over the last ninety days. 5.34% of the stock is currently owned by insiders.

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.