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

Oddo BHF Asset Management Sas trimmed its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMOFree Report) by 68.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,000 shares of the semiconductor producer’s stock after selling 132,500 shares during the period. Oddo BHF Asset Management Sas owned 0.18% of Silicon Motion Technology worth $6,737,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Silicon Motion Technology in the third quarter valued at $26,000. WealthCollab LLC grew its stake in shares of 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 acquiring an additional 151 shares during the period. Arax Advisory Partners grew its stake in shares of Silicon Motion Technology by 220.9% during the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock worth $41,000 after acquiring an additional 307 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Silicon Motion Technology by 169.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after acquiring an additional 366 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Silicon Motion Technology in the 2nd quarter worth about $75,000. 78.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on SIMO shares. B. Riley Financial reaffirmed a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, April 30th. Weiss Ratings downgraded shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Roth Capital reissued a “buy” rating and issued a $250.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Craig Hallum restated a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a research note on Thursday, April 30th. Finally, Susquehanna raised their price objective on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Silicon Motion Technology presently has a consensus rating of “Buy” and an average target price of $246.43.

Read Our Latest Stock Report on Silicon Motion Technology

Insider Buying and Selling

In other news, Director Han-Ping Shieh sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kuan-Ming Lin sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were 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 approximately $2,592,500. This represents a 19.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,000 shares of company stock valued at $1,239,250 over the last 90 days. 5.34% of the stock is owned by company insiders.

Silicon Motion Technology Stock Performance

Shares of SIMO opened at $209.68 on Thursday. The stock’s 50-day simple moving average is $289.48 and its 200 day simple moving average is $195.24. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 0.49 and a beta of 1.70. Silicon Motion Technology Corporation has a 52-week low of $71.35 and a 52-week high of $355.00.

Silicon Motion Technology (NASDAQ:SIMOGet Free Report) last issued its earnings results on Wednesday, July 29th. The semiconductor producer reported $2.43 EPS for the quarter, topping the consensus estimate of $2.13 by $0.30. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The business had revenue of $451.00 million during the quarter, compared to the consensus estimate of $403.41 million. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue was up 127.0% compared to the same quarter last year. On average, research analysts forecast that Silicon Motion Technology Corporation will post 8.48 earnings per share for the current fiscal year.

About Silicon Motion Technology

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Silicon Motion Technology (NASDAQ:SIMO)

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