Zacks: Brokerages Expect Silicon Motion Technology Co. (NASDAQ:SIMO) Will Post Earnings of $1.69 Per Share

Equities analysts expect Silicon Motion Technology Co. (NASDAQ:SIMO – Get Rating) to report $1.69 earnings per share for the current quarter, according to Zacks. Five analysts have provided estimates for Silicon Motion Technology’s earnings. The highest EPS estimate is $1.84 and the lowest is $1.55. Silicon Motion Technology posted earnings of $1.50 per share during the same quarter last year, which suggests a positive year over year growth rate of 12.7%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Silicon Motion Technology will report full year earnings of $7.81 per share for the current year, with EPS estimates ranging from $6.81 to $8.32. For the next fiscal year, analysts anticipate that the company will post earnings of $8.64 per share, with EPS estimates ranging from $6.56 to $10.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The semiconductor producer reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.35. Silicon Motion Technology had a net margin of 22.42% and a return on equity of 33.47%. The company had revenue of $242.00 million for the quarter, compared to analysts’ expectations of $239.46 million. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Silicon Motion Technology’s revenue for the quarter was up 32.7% on a year-over-year basis.

Several analysts recently weighed in on SIMO shares. Cowen boosted their price objective on shares of Silicon Motion Technology from $105.00 to $110.00 in a research note on Friday, January 28th. Needham & Company LLC cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. StockNews.com began coverage on shares of Silicon Motion Technology in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Susquehanna Bancshares cut shares of Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research report on Thursday, May 5th. Finally, Zacks Investment Research raised shares of Silicon Motion Technology from a “strong sell” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Wednesday, February 2nd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Silicon Motion Technology currently has a consensus rating of “Hold” and a consensus price target of $101.13.

Shares of Silicon Motion Technology stock traded up $0.09 during trading on Friday, hitting $91.94. The company’s stock had a trading volume of 960,950 shares, compared to its average volume of 1,421,710. Silicon Motion Technology has a 52 week low of $58.86 and a 52 week high of $98.65. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.02. The stock has a 50-day moving average price of $75.89 and a two-hundred day moving average price of $78.54.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, May 11th. This represents a $2.00 annualized dividend and a dividend yield of 2.18%. Silicon Motion Technology’s dividend payout ratio is currently 31.44%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mission Wealth Management LP raised its holdings in shares of Silicon Motion Technology by 5.2% in the 1st quarter. Mission Wealth Management LP now owns 3,050 shares of the semiconductor producer’s stock worth $204,000 after acquiring an additional 150 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Silicon Motion Technology by 1.9% in the 4th quarter. Stifel Financial Corp now owns 9,172 shares of the semiconductor producer’s stock worth $872,000 after acquiring an additional 173 shares during the last quarter. Aigen Investment Management LP raised its holdings in shares of Silicon Motion Technology by 3.3% in the 1st quarter. Aigen Investment Management LP now owns 5,378 shares of the semiconductor producer’s stock worth $359,000 after acquiring an additional 173 shares during the last quarter. AE Wealth Management LLC increased its stake in Silicon Motion Technology by 2.1% in the 4th quarter. AE Wealth Management LLC now owns 8,600 shares of the semiconductor producer’s stock valued at $817,000 after buying an additional 181 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Silicon Motion Technology by 3.8% in the 4th quarter. Cetera Investment Advisers now owns 6,290 shares of the semiconductor producer’s stock valued at $598,000 after buying an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 76.60% of the company’s stock.

About Silicon Motion Technology (Get Rating)

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It 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.

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