Silicon Motion Technology is trading 4.1% down today at $293.94 as investors take profits following a significant rally and a broader rotation out of growth and semiconductor stocks.
- The stock is giving back gains after a multi-week surge that saw it rise nearly 118% in the last three months and over 350% in the past year.
- The downturn follows Broadcom’s post-earnings slide, which has prompted a shift in capital toward value and industrial names.