$243.56 Million in Sales Expected for Silicon Motion Technology Co. (NASDAQ:SIMO) This Quarter

Equities analysts expect Silicon Motion Technology Co. (NASDAQ:SIMO) to post $243.56 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Silicon Motion Technology’s earnings, with the lowest sales estimate coming in at $243.50 million and the highest estimate coming in at $243.68 million. Silicon Motion Technology reported sales of $126.04 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 93.2%. The business is scheduled to announce its next quarterly earnings report on Monday, November 1st.

On average, analysts expect that Silicon Motion Technology will report full year sales of $902.59 million for the current financial year, with estimates ranging from $899.98 million to $903.60 million. For the next fiscal year, analysts anticipate that the company will report sales of $1.01 billion, with estimates ranging from $869.62 million to $1.08 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Thursday, July 29th. The semiconductor producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.11. The business had revenue of $221.10 million for the quarter, compared to analyst estimates of $203.95 million. Silicon Motion Technology had a return on equity of 18.30% and a net margin of 16.27%.

A number of brokerages have commented on SIMO. B. Riley upped their price objective on Silicon Motion Technology from $94.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 2nd. Morgan Stanley raised Silicon Motion Technology from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $68.00 to $78.00 in a report on Thursday, August 12th. Craig Hallum increased their target price on Silicon Motion Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. Cowen increased their target price on Silicon Motion Technology from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, August 2nd. Finally, Needham & Company LLC increased their target price on Silicon Motion Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $88.63.

Shares of NASDAQ SIMO opened at $74.07 on Friday. The stock’s fifty day moving average price is $71.31 and its two-hundred day moving average price is $66.79. Silicon Motion Technology has a one year low of $35.16 and a one year high of $81.87. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 1.76 and a beta of 1.11.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 19th. Shareholders of record on Thursday, August 5th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, August 4th. This represents a $1.40 annualized dividend and a yield of 1.89%. Silicon Motion Technology’s dividend payout ratio is presently 60.96%.

A number of institutional investors have recently bought and sold shares of SIMO. Lord Abbett & CO. LLC increased its stake in shares of Silicon Motion Technology by 512.8% in the second quarter. Lord Abbett & CO. LLC now owns 1,154,766 shares of the semiconductor producer’s stock valued at $74,021,000 after buying an additional 966,323 shares during the period. Millennium Management LLC increased its stake in shares of Silicon Motion Technology by 150.7% in the second quarter. Millennium Management LLC now owns 1,313,142 shares of the semiconductor producer’s stock valued at $84,172,000 after buying an additional 789,328 shares during the period. Man Group plc acquired a new stake in shares of Silicon Motion Technology in the first quarter valued at about $33,673,000. Acadian Asset Management LLC increased its stake in shares of Silicon Motion Technology by 33.7% in the first quarter. Acadian Asset Management LLC now owns 856,395 shares of the semiconductor producer’s stock valued at $50,862,000 after buying an additional 216,091 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Silicon Motion Technology by 443.5% in the first quarter. Point72 Asset Management L.P. now owns 255,438 shares of the semiconductor producer’s stock valued at $15,170,000 after buying an additional 208,438 shares during the period. Hedge funds and other institutional investors own 74.04% of the company’s stock.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corp. engages in the development, manufacture and supply of semiconductor products for the electronics market. The firm products include Flash Controllers, Storage Solutions, and others. It offers embedded and expandable storage, radio frequency integrated circuits and embedded graphics.

Featured Story: What is Depreciation?

Get a free copy of the Zacks research report on Silicon Motion Technology (SIMO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Silicon Motion Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter.