Stock Traders Buy High Volume of Silicon Motion Technology Call Options (NASDAQ:SIMO)

Silicon Motion Technology Corporation (NASDAQ:SIMO) was the target of some unusual options trading activity on Friday. Stock traders acquired 3,447 call options on the stock. This represents an increase of approximately 294% compared to the typical volume of 875 call options.

Silicon Motion Technology Stock Performance

SIMO opened at $118.93 on Friday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 1.29 and a beta of 1.05. The firm’s 50-day simple moving average is $99.04 and its 200-day simple moving average is $90.28. Silicon Motion Technology has a twelve month low of $37.21 and a twelve month high of $127.67.

Institutional Investors Weigh In On Silicon Motion Technology

Large investors have recently bought and sold shares of the business. Skylands Capital LLC raised its position in Silicon Motion Technology by 37.9% in the 4th quarter. Skylands Capital LLC now owns 53,219 shares of the semiconductor producer’s stock valued at $4,933,000 after purchasing an additional 14,625 shares during the last quarter. Vest Financial LLC bought a new position in shares of Silicon Motion Technology in the fourth quarter valued at about $241,000. UBS Group AG lifted its position in Silicon Motion Technology by 39.0% during the 4th quarter. UBS Group AG now owns 351,541 shares of the semiconductor producer’s stock worth $32,588,000 after buying an additional 98,548 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Silicon Motion Technology by 4.0% during the 4th quarter. Sanctuary Advisors LLC now owns 4,331 shares of the semiconductor producer’s stock worth $401,000 after acquiring an additional 167 shares during the last quarter. Finally, Quent Capital LLC bought a new stake in Silicon Motion Technology during the 4th quarter worth about $278,000. 78.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SIMO has been the topic of several research reports. Wall Street Zen upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wedbush set a $120.00 target price on Silicon Motion Technology in a research note on Monday, November 3rd. Susquehanna lifted their price target on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. B. Riley boosted their price target on shares of Silicon Motion Technology from $125.00 to $135.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Zacks Research downgraded shares of Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.13.

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.