Silicon Motion Technology Corp. (SIMO) Expected to Post Earnings of $0.63 Per Share

Wall Street brokerages expect Silicon Motion Technology Corp. (NASDAQ:SIMO) to post earnings per share of $0.63 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Silicon Motion Technology’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.61. Silicon Motion Technology reported earnings of $0.95 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 33.7%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, February 6th.

According to Zacks, analysts expect that Silicon Motion Technology will report full year earnings of $2.60 per share for the current year, with EPS estimates ranging from $2.59 to $2.63. For the next year, analysts expect that the company will post earnings of $3.20 per share, with EPS estimates ranging from $3.03 to $3.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The company had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $127.24 million. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. The firm’s revenue was down 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share.

SIMO has been the topic of several recent analyst reports. KeyCorp boosted their target price on shares of Silicon Motion Technology from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th. Nomura downgraded shares of Silicon Motion Technology from a “neutral” rating to a “reduce” rating and set a $45.00 target price on the stock. in a research note on Wednesday. Summit Redstone raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Needham & Company LLC reissued a “buy” rating and set a $57.00 target price on shares of Silicon Motion Technology in a research note on Friday, October 27th. Finally, ValuEngine downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. Silicon Motion Technology has a consensus rating of “Buy” and a consensus price target of $57.23.

Several institutional investors have recently bought and sold shares of the company. ARGA Investment Management LP grew its holdings in shares of Silicon Motion Technology by 6.2% during the 3rd quarter. ARGA Investment Management LP now owns 1,839,779 shares of the semiconductor producer’s stock valued at $88,365,000 after acquiring an additional 106,900 shares in the last quarter. Investec Asset Management LTD grew its holdings in shares of Silicon Motion Technology by 46.4% during the 2nd quarter. Investec Asset Management LTD now owns 1,638,818 shares of the semiconductor producer’s stock valued at $79,040,000 after acquiring an additional 519,631 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Silicon Motion Technology by 78.0% during the 3rd quarter. Royce & Associates LP now owns 801,540 shares of the semiconductor producer’s stock valued at $38,498,000 after acquiring an additional 351,140 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Silicon Motion Technology by 27.9% during the 2nd quarter. Teachers Advisors LLC now owns 787,674 shares of the semiconductor producer’s stock valued at $37,990,000 after acquiring an additional 171,989 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Silicon Motion Technology by 64.7% during the 3rd quarter. Janus Henderson Group PLC now owns 700,076 shares of the semiconductor producer’s stock valued at $33,639,000 after acquiring an additional 275,089 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shares of Silicon Motion Technology (NASDAQ SIMO) traded up $0.45 during trading hours on Monday, reaching $51.70. 750,817 shares of the company’s stock traded hands, compared to its average volume of 772,252. Silicon Motion Technology has a 52 week low of $37.37 and a 52 week high of $56.51. The firm has a market cap of $1,790.00, a P/E ratio of 20.20 and a beta of 0.66.

The business also recently declared a None dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Monday, February 12th will be issued a dividend of $0.298 per share. This represents a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, February 9th. Silicon Motion Technology’s dividend payout ratio is currently 34.77%.

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Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

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