Heartland Advisors Inc. Sells 20,314 Shares of Silicon Motion Technology Corporation $SIMO

Heartland Advisors Inc. decreased its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 7.5% in the 1st quarter, HoldingsChannel reports. The firm owned 252,084 shares of the semiconductor producer’s stock after selling 20,314 shares during the quarter. Silicon Motion Technology makes up 1.4% of Heartland Advisors Inc.’s holdings, making the stock its 3rd biggest holding. Heartland Advisors Inc.’s holdings in Silicon Motion Technology were worth $28,307,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. increased its position in shares of Silicon Motion Technology by 2.3% during the first quarter. Assetmark Inc. now owns 2,814 shares of the semiconductor producer’s stock worth $316,000 after acquiring an additional 63 shares during the period. Wedbush Securities Inc. boosted its holdings in Silicon Motion Technology by 1.7% in the fourth quarter. Wedbush Securities Inc. now owns 4,685 shares of the semiconductor producer’s stock valued at $434,000 after purchasing an additional 79 shares during the period. NewEdge Wealth LLC grew its stake in Silicon Motion Technology by 3.6% during the 4th quarter. NewEdge Wealth LLC now owns 2,631 shares of the semiconductor producer’s stock worth $244,000 after purchasing an additional 91 shares in the last quarter. Ballentine Partners LLC grew its stake in Silicon Motion Technology by 2.8% during the 4th quarter. Ballentine Partners LLC now owns 4,006 shares of the semiconductor producer’s stock worth $371,000 after purchasing an additional 110 shares in the last quarter. Finally, WealthCollab LLC increased its holdings in Silicon Motion Technology by 77.4% during 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 period. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Price Performance

NASDAQ:SIMO opened at $264.33 on Friday. The firm has a market capitalization of $8.96 billion, a PE ratio of 52.55, a price-to-earnings-growth ratio of 0.58 and a beta of 1.70. The business’s fifty day moving average price is $289.83 and its 200 day moving average price is $185.78. Silicon Motion Technology Corporation has a 12 month low of $71.16 and a 12 month high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.27. The company had revenue of $342.11 million for the quarter, compared to analysts’ expectations of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.Silicon Motion Technology’s quarterly revenue was up 105.5% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. As a group, equities analysts anticipate that Silicon Motion Technology Corporation will post 8.48 EPS for the current year.

Analyst Ratings Changes

SIMO has been the topic of a number of analyst reports. Weiss Ratings lowered Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Roth Capital reissued a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Wall Street Zen lowered shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Susquehanna raised their target price 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, Wedbush raised their target price on shares of Silicon Motion Technology from $230.00 to $400.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Silicon Motion Technology currently has an average rating of “Buy” and an average target price of $246.43.

Insider Buying and Selling at Silicon Motion Technology

In related news, Director Kuan-Ming Lin sold 2,000 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $305.00, for a total value of $610,000.00. Following the transaction, the director directly owned 8,500 shares of the company’s stock, valued at $2,592,500. This trade represents a 19.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Han-Ping Shieh sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $328.00, for a total value of $328,000.00. Following the transaction, the director directly owned 7,500 shares in the company, valued at approximately $2,460,000. The trade was a 11.76% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,000 shares of company stock valued at $1,239,250. Company insiders own 5.34% 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.