ABN Amro Investment Solutions Sells 33,735 Shares of Silicon Motion Technology Corporation $SIMO

ABN Amro Investment Solutions reduced its stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 31.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,116 shares of the semiconductor producer’s stock after selling 33,735 shares during the quarter. ABN Amro Investment Solutions owned about 0.22% of Silicon Motion Technology worth $8,210,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS acquired a new position in shares of Silicon Motion Technology during the first quarter valued at $4,827,000. Schwartz Investment Counsel Inc. raised its stake in shares of Silicon Motion Technology by 36.4% during the first quarter. Schwartz Investment Counsel Inc. now owns 300,000 shares of the semiconductor producer’s stock valued at $33,687,000 after purchasing an additional 80,000 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in Silicon Motion Technology in the first quarter worth about $22,458,000. Calamos Advisors LLC acquired a new stake in Silicon Motion Technology in the first quarter worth about $2,686,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Silicon Motion Technology in the 1st quarter valued at about $496,000. 78.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Silicon Motion Technology

In related news, 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 completion of the sale, the director owned 7,500 shares in the company, valued at approximately $2,460,000. This trade represents a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the director directly owned 8,500 shares of the company’s stock, valued at $2,592,500. The trade was a 19.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 4,000 shares of company stock worth $1,239,250. Company insiders own 5.34% of the company’s stock.

Silicon Motion Technology Price Performance

Shares of SIMO opened at $281.68 on Thursday. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 56.00, a P/E/G ratio of 0.61 and a beta of 1.70. Silicon Motion Technology Corporation has a fifty-two week low of $71.35 and a fifty-two week high of $355.00. The business’s 50-day moving average is $290.26 and its 200-day moving average is $190.24.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.27. The business had revenue of $342.11 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Equities research analysts expect that Silicon Motion Technology Corporation will post 8.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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