AIGH Capital Management LLC Makes New Investment in Silicon Motion Technology Corporation $SIMO

Key Points

• AIGH Capital Management disclosed a new first-quarter stake in Silicon Motion Technology, buying 200,000 shares worth about $22.5 million. The position makes SIMO the fund’s 4th-largest holding and represents about 0.59% of the company.
• Insider selling was reported by two directors in June: Han-Ping Shieh sold 1,000 shares and Kuan-Ming Lin sold 2,000 shares. Over the last quarter, insiders sold a total of 4,000 shares valued at roughly $1.24 million.
• Analysts remain generally positive on the stock, with a consensus rating of “Buy” and an average price target of $246.43. Silicon Motion also beat earnings expectations in its latest quarter, reporting $1.58 EPS and revenue of $342.11 million, up 105.5% year over year.

AIGH Capital Management LLC bought a new stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 200,000 shares of the semiconductor producer's stock, valued at approximately $22,458,000. Silicon Motion Technology accounts for approximately 3.1% of AIGH Capital Management LLC's portfolio, making the stock its 4th biggest holding. AIGH Capital Management LLC owned about 0.59% of Silicon Motion Technology as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SIMO. Brown Brothers Harriman & Co. bought a new position in shares of Silicon Motion Technology in the third quarter worth $26,000. WealthCollab LLC lifted its position in Silicon Motion Technology by 77.4% during 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 period. Arax Advisory Partners grew its stake in Silicon Motion Technology by 220.9% during the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer's stock worth $41,000 after buying an additional 307 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Silicon Motion Technology by 169.4% during the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer's stock worth $44,000 after buying an additional 366 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new position in Silicon Motion Technology in the 4th quarter valued at about $71,000. 78.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Han-Ping Shieh sold 1,000 shares of the 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 owned 7,500 shares of the company's stock, valued at $2,460,000. This represents a 11.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kuan-Ming Lin sold 2,000 shares of the firm'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 completion of the sale, the director owned 8,500 shares in the company, valued at $2,592,500. This represents a 19.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 4,000 shares of company stock valued at $1,239,250. 5.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Silicon Motion Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 4th. Roth Capital reiterated a "buy" rating and set a $250.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Craig Hallum reissued a "buy" rating and issued a $250.00 price objective on shares of Silicon Motion Technology in a research note 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 report on Wednesday, May 6th. Finally, Susquehanna upped their target price on Silicon Motion Technology from $175.00 to $275.00 and gave the stock a "positive" rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $246.43.

Silicon Motion Technology Stock Up 6.2%

Silicon Motion Technology stock opened at $313.30 on Thursday. Silicon Motion Technology Corporation has a 12-month low of $70.12 and a 12-month high of $355.00. The business's 50-day moving average price is $279.36 and its two-hundred day moving average price is $176.16. The stock has a market cap of $10.62 billion, a PE ratio of 62.29, a P/E/G ratio of 0.66 and a beta of 1.70.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The firm had revenue of $342.11 million during the quarter, compared to analysts' expectations of $299.53 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business's revenue for the quarter was up 105.5% compared to the same quarter last year. As a group, analysts expect that Silicon Motion Technology Corporation will post 8.35 earnings per share 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.

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