Silicon Motion Technology Corporation (NASDAQ:SIMO – Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 6,273 call options on the stock. This is an increase of 191% compared to the average volume of 2,158 call options.
Silicon Motion Technology Trading Up 2.4%
NASDAQ SIMO traded up $6.83 on Tuesday, hitting $289.28. 266,862 shares of the company traded hands, compared to its average volume of 878,242. The business’s 50 day moving average price is $256.75 and its 200-day moving average price is $240.65. Silicon Motion Technology has a 52-week low of $79.76 and a 52-week high of $355.00. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 0.49 and a beta of 1.69.
Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) last posted its quarterly earnings data 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 32.04% and a net margin of 22.06%.The firm had revenue of $451.00 million for the quarter, compared to the consensus estimate of $403.41 million. During the same quarter last year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was up 127.0% compared to the same quarter last year. As a group, sell-side analysts predict that Silicon Motion Technology will post 10.78 earnings per share for the current year.
Analyst Ratings Changes
Check Out Our Latest Report on Silicon Motion Technology
Hedge Funds Weigh In On Silicon Motion Technology
Large investors have recently added to or reduced their stakes in the company. Confluence Investment Management LLC bought a new position in Silicon Motion Technology in the 3rd quarter worth $403,000. QRG Capital Management Inc. bought a new position in shares of Silicon Motion Technology in the second quarter worth about $636,000. IKE Capital LLC purchased a new stake in shares of Silicon Motion Technology during the second quarter worth about $412,000. Tidal Investments LLC raised its stake in Silicon Motion Technology by 135.9% during the 2nd quarter. Tidal Investments LLC now owns 116,620 shares of the semiconductor producer’s stock valued at $38,873,000 after purchasing an additional 67,178 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Silicon Motion Technology by 190.6% during the 2nd quarter. NewEdge Advisors LLC now owns 2,130 shares of the semiconductor producer’s stock valued at $710,000 after purchasing an additional 1,397 shares during the period. Hedge funds and other institutional investors own 78.02% of the company’s stock.
About Silicon Motion Technology
Silicon Motion Technology Corporation is a fabless semiconductor company that designs and develops NAND flash storage controllers and related semiconductor solutions. Its products manage data storage, performance, reliability and power consumption in devices that use NAND flash memory.
The company supplies controllers for client solid-state drives (SSDs), enterprise and industrial storage applications, embedded storage products such as eMMC and UFS, and removable storage including memory cards and USB flash drives.
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