This morning’s quarterly earnings report from Silicon Motion Technology Corp. (SIMO) has pushed its share price up a bit, but it remains below our stop price of $29 so we are selling it out of the STI Next Wave portfolio. We still like the company from a long term perspective, but in the near term we feel the opportunity for additional profit is limited given its huge appreciation in value during the past year. We first recommended buying SIMO in April in 2014 when it was trading below $17, and even though it has come down from its recent high of $37 we have still captured a gain of nearly 70% in only fifteen months!