Oddo BHF Asset Management Sas Sells 132,500 Shares of Silicon Motion Technology Corporation $SIMO

Oddo BHF Asset Management Sas lowered its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 68.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 60,000 shares of the semiconductor producer’s stock after selling 132,500 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Silicon Motion Technology were worth $6,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SIMO. Brown Brothers Harriman & Co. bought a new stake in shares of Silicon Motion Technology during the 3rd quarter valued at about $26,000. WealthCollab LLC increased its position in shares of Silicon Motion Technology by 77.4% in the fourth 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 raised its stake in Silicon Motion Technology by 220.9% in the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock valued at $41,000 after purchasing an additional 307 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 purchasing an additional 366 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Silicon Motion Technology in the second quarter valued at approximately $75,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Insider Buying and Selling

In other 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 owned 8,500 shares of the company’s stock, valued at approximately $2,592,500. This represents a 19.05% 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 Han-Ping Shieh sold 1,000 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $328.00, for a total transaction 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. The disclosure for this sale is available in the SEC filing. Over 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.

Analyst Ratings Changes

A number of research firms have commented on SIMO. Roth Capital reissued a “buy” rating and issued a $250.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, April 29th. Craig Hallum restated a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Susquehanna upped their target price on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings lowered shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. 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 an average price target of $246.43.

Silicon Motion Technology Price Performance

NASDAQ:SIMO opened at $209.68 on Thursday. The business has a 50 day moving average of $289.48 and a 200 day moving average of $195.24. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 41.69, a PEG ratio of 0.49 and a beta of 1.70. Silicon Motion Technology Corporation has a 1-year low of $71.35 and a 1-year high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor producer reported $2.43 EPS 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 business had revenue of $451.00 million for the quarter, compared to analysts’ expectations of $403.41 million. During the same period last year, the business earned $0.69 earnings per share. The business’s quarterly revenue was up 127.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Silicon Motion Technology Corporation will post 8.48 EPS for the current year.

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.