Silicon Motion Technology Corporation $SIMO Shares Bought by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. grew its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 36.4% during the first quarter, Holdings Channel.com reports. The firm owned 300,000 shares of the semiconductor producer’s stock after buying an additional 80,000 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Silicon Motion Technology were worth $33,687,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Silicon Motion Technology in the 3rd quarter worth approximately $26,000. WealthCollab LLC increased its stake in shares of 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 during the period. Arax Advisory Partners raised its holdings in 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 in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 worth $44,000 after purchasing an additional 366 shares during the period. Finally, MeadowBrook Investment Advisors LLC bought a new position in Silicon Motion Technology during the 4th quarter valued at $71,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Insider Activity at Silicon Motion Technology

In related news, Director Kuan-Ming Lin sold 2,000 shares of the company’s 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 completion of the sale, the director directly owned 8,500 shares in the company, valued at approximately $2,592,500. This represents a 19.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Han-Ping Shieh sold 1,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were 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. This represents a 11.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 4,000 shares of company stock worth $1,239,250. Insiders own 5.34% of the company’s stock.

Silicon Motion Technology Price Performance

NASDAQ SIMO opened at $299.51 on Tuesday. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 59.54, a price-to-earnings-growth ratio of 0.72 and a beta of 1.70. The company has a 50 day simple moving average of $286.65 and a 200-day simple moving average of $180.96. Silicon Motion Technology Corporation has a 52-week low of $70.12 and a 52-week 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 EPS for the quarter, beating the consensus estimate of $1.31 by $0.27. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The business 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 company posted $0.60 EPS. Silicon Motion Technology’s revenue was up 105.5% on a year-over-year basis. On average, analysts predict that Silicon Motion Technology Corporation will post 8.48 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on SIMO. Weiss Ratings cut shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Wedbush increased their price objective on Silicon Motion Technology from $230.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. B. Riley Financial reaffirmed a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Finally, Susquehanna upped their price objective on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $246.43.

About Silicon Motion Technology

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.