Silicon Motion Technology (SIMO) to Release Quarterly Earnings on Thursday

Silicon Motion Technology (NASDAQ:SIMO) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Silicon Motion Technology has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. Silicon Motion Technology had a net margin of 8.27% and a return on equity of 7.01%. The business had revenue of $202.38 million for the quarter, compared to the consensus estimate of $197.60 million. On average, analysts expect Silicon Motion Technology to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Silicon Motion Technology Trading Up 1.6 %

Shares of SIMO stock opened at $73.73 on Thursday. Silicon Motion Technology has a 1 year low of $49.50 and a 1 year high of $95.33. The firm’s fifty day simple moving average is $73.93 and its 200 day simple moving average is $64.87. The firm has a market capitalization of $2.44 billion, a P/E ratio of 46.66, a price-to-earnings-growth ratio of 3.90 and a beta of 0.85.

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, May 8th. This represents a $2.00 annualized dividend and a dividend yield of 2.71%. Silicon Motion Technology’s payout ratio is 125.95%.

Analysts Set New Price Targets

SIMO has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Wedbush restated an “outperform” rating and set a $85.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 10th. Craig Hallum upped their target price on Silicon Motion Technology from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Needham & Company LLC lifted their price target on shares of Silicon Motion Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, B. Riley boosted their price target on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Silicon Motion Technology currently has an average rating of “Moderate Buy” and an average price target of $87.57.

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.