Equities analysts expect Silicon Motion Technology Corp. (NASDAQ:SIMO) to post earnings of $0.85 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Silicon Motion Technology’s earnings, with the lowest EPS estimate coming in at $0.80 and the highest estimate coming in at $0.91. Silicon Motion Technology reported earnings per share of $0.83 in the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The company is expected to announce its next earnings report after the market closes on Thursday, February 6th.
According to Zacks, analysts expect that Silicon Motion Technology will report full year earnings of $2.49 per share for the current fiscal year, with EPS estimates ranging from $2.44 to $2.55. For the next fiscal year, analysts forecast that the business will report earnings of $3.19 per share, with EPS estimates ranging from $3.03 to $3.70. 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 announced its quarterly earnings results on Tuesday, October 29th. The semiconductor producer reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.31. Silicon Motion Technology had a return on equity of 13.22% and a net margin of 13.16%. The firm had revenue of $110.50 million for the quarter, compared to analyst estimates of $112.08 million. During the same period last year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was down 20.3% on a year-over-year basis.
A number of analysts have recently commented on the company. B. Riley lifted their price target on Silicon Motion Technology from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Wedbush initiated coverage on Silicon Motion Technology in a research note on Tuesday, October 22nd. They issued a “neutral” rating and a $39.00 price objective on the stock. Nomura raised Silicon Motion Technology from a “reduce” rating to a “neutral” rating in a research note on Monday, October 7th. Roth Capital lifted their price objective on Silicon Motion Technology from to and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Craig Hallum lifted their price objective on Silicon Motion Technology from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Silicon Motion Technology currently has a consensus rating of “Buy” and a consensus price target of $51.10.
Shares of SIMO stock traded down $0.43 during mid-day trading on Friday, reaching $50.10. 323,608 shares of the stock traded hands, compared to its average volume of 196,407. The stock’s fifty day simple moving average is $48.76 and its two-hundred day simple moving average is $40.64. Silicon Motion Technology has a 1-year low of $30.86 and a 1-year high of $53.04. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 2.67 and a beta of 1.14.
Institutional investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Silicon Motion Technology in the third quarter worth approximately $36,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Silicon Motion Technology by 12.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,590 shares of the semiconductor producer’s stock worth $92,000 after acquiring an additional 292 shares during the period. Tower Research Capital LLC TRC bought a new stake in Silicon Motion Technology in the third quarter worth approximately $98,000. Jane Street Group LLC bought a new stake in Silicon Motion Technology in the second quarter worth approximately $230,000. Finally, Camelot Portfolios LLC bought a new stake in Silicon Motion Technology in the fourth quarter worth approximately $254,000. 69.89% of the stock is currently owned by institutional investors.
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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