Analysts Expect Silicon Motion Technology Corp. (NASDAQ:SIMO) to Announce $0.51 EPS

Equities analysts expect Silicon Motion Technology Corp. (NASDAQ:SIMO) to post earnings of $0.51 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Silicon Motion Technology’s earnings. The highest EPS estimate is $0.52 and the lowest is $0.50. Silicon Motion Technology posted earnings per share of $0.95 in the same quarter last year, which would suggest a negative year-over-year growth rate of 46.3%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, October 29th.

On average, analysts expect that Silicon Motion Technology will report full year earnings of $2.07 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.12. For the next year, analysts expect that the company will post earnings of $2.76 per share, with EPS estimates ranging from $2.55 to $2.98. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor producer reported $0.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.52. Silicon Motion Technology had a net margin of 17.84% and a return on equity of 17.76%. The firm had revenue of $98.80 million for the quarter, compared to the consensus estimate of $97.33 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. The business’s revenue was down 28.5% compared to the same quarter last year.

SIMO has been the topic of a number of recent research reports. BidaskClub downgraded shares of Silicon Motion Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. ValuEngine upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Roth Capital reduced their target price on shares of Silicon Motion Technology from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Cowen restated an “outperform” rating and issued a $42.00 target price (down previously from $45.00) on shares of Silicon Motion Technology in a research note on Thursday, August 1st. Finally, KeyCorp set a $58.00 target price on shares of Silicon Motion Technology and gave the company a “hold” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $47.40.

Several hedge funds have recently made changes to their positions in SIMO. Lazard Asset Management LLC increased its stake in Silicon Motion Technology by 0.5% during the 1st quarter. Lazard Asset Management LLC now owns 2,369,420 shares of the semiconductor producer’s stock worth $93,922,000 after purchasing an additional 11,353 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Silicon Motion Technology by 26.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,019,672 shares of the semiconductor producer’s stock worth $85,696,000 after acquiring an additional 416,234 shares during the last quarter. Investec Asset Management LTD boosted its position in Silicon Motion Technology by 0.7% during the 2nd quarter. Investec Asset Management LTD now owns 1,674,941 shares of the semiconductor producer’s stock worth $74,334,000 after acquiring an additional 11,364 shares during the last quarter. ARGA Investment Management LP boosted its position in Silicon Motion Technology by 15.5% during the 2nd quarter. ARGA Investment Management LP now owns 1,560,879 shares of the semiconductor producer’s stock worth $69,272,000 after acquiring an additional 209,089 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Silicon Motion Technology by 315.9% during the 2nd quarter. Invesco Ltd. now owns 1,466,583 shares of the semiconductor producer’s stock worth $65,086,000 after acquiring an additional 1,113,983 shares during the last quarter. 71.10% of the stock is owned by institutional investors.

SIMO traded down $0.38 during trading on Thursday, reaching $33.16. 83,882 shares of the company’s stock were exchanged, compared to its average volume of 330,186. Silicon Motion Technology has a fifty-two week low of $30.86 and a fifty-two week high of $55.50. The business has a 50 day moving average price of $33.26 and a 200 day moving average price of $38.85. The company has a market capitalization of $1.21 billion, a P/E ratio of 9.72, a PEG ratio of 3.81 and a beta of 1.01.

About Silicon Motion Technology

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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Earnings History and Estimates for Silicon Motion Technology (NASDAQ:SIMO)

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