Brokerages Anticipate Silicon Motion Technology Co. (NASDAQ:SIMO) Will Post Earnings of $1.69 Per Share

Wall Street brokerages forecast that Silicon Motion Technology Co. (NASDAQ:SIMOGet Rating) will announce $1.69 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Silicon Motion Technology’s earnings, with estimates ranging from $1.55 to $1.84. Silicon Motion Technology posted earnings of $1.50 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.7%. The firm is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Silicon Motion Technology will report full year earnings of $7.81 per share for the current financial year, with EPS estimates ranging from $6.81 to $8.32. For the next financial year, analysts expect that the business will report earnings of $8.64 per share, with EPS estimates ranging from $6.56 to $10.52. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMOGet Rating) last announced its earnings results on Wednesday, May 4th. The semiconductor producer reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.35. Silicon Motion Technology had a return on equity of 33.47% and a net margin of 22.42%. The firm had revenue of $242.00 million during the quarter, compared to analyst estimates of $239.46 million. During the same quarter in the prior year, the company earned $0.98 EPS. The business’s revenue was up 32.7% compared to the same quarter last year.

SIMO has been the subject of several research reports. Zacks Investment Research raised Silicon Motion Technology from a “strong sell” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Wednesday, February 2nd. StockNews.com initiated coverage on Silicon Motion Technology in a research report on Thursday, March 31st. They set a “buy” rating for the company. Susquehanna Bancshares lowered Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research report on Thursday, May 5th. Roth Capital lowered Silicon Motion Technology from a “buy” rating to a “neutral” rating in a research report on Thursday, May 5th. Finally, Susquehanna lowered Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research report on Thursday, May 5th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.13.

Shares of NASDAQ:SIMO opened at $92.04 on Friday. Silicon Motion Technology has a 52-week low of $58.86 and a 52-week high of $98.65. The firm has a market capitalization of $3.17 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.41 and a beta of 1.02. The stock has a 50 day moving average price of $76.33 and a 200-day moving average price of $78.74.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, May 11th. This represents a $2.00 annualized dividend and a yield of 2.17%. Silicon Motion Technology’s dividend payout ratio is 31.44%.

Institutional investors and hedge funds have recently modified their holdings of the business. Schroder Investment Management Group boosted its stake in Silicon Motion Technology by 2,851.5% during the 3rd quarter. Schroder Investment Management Group now owns 436,618 shares of the semiconductor producer’s stock valued at $7,530,000 after purchasing an additional 421,825 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Silicon Motion Technology by 6.6% in the 3rd quarter. Two Sigma Advisers LP now owns 460,846 shares of the semiconductor producer’s stock worth $31,789,000 after buying an additional 28,482 shares during the last quarter. Juncture Wealth Strategies LLC purchased a new position in shares of Silicon Motion Technology in the 4th quarter worth $429,000. Envestnet Asset Management Inc. boosted its stake in shares of Silicon Motion Technology by 5.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 47,448 shares of the semiconductor producer’s stock worth $4,509,000 after buying an additional 2,332 shares during the last quarter. Finally, 180 Wealth Advisors LLC purchased a new position in shares of Silicon Motion Technology in the 4th quarter worth $202,000. Institutional investors and hedge funds own 76.60% of the company’s stock.

Silicon Motion Technology Company Profile (Get Rating)

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It 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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