Silicon Motion Technology Co. (NASDAQ:SIMO) Expected to Announce Quarterly Sales of $263.42 Million

Equities research analysts expect Silicon Motion Technology Co. (NASDAQ:SIMOGet Rating) to report $263.42 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Silicon Motion Technology’s earnings, with the lowest sales estimate coming in at $251.16 million and the highest estimate coming in at $285.54 million. Silicon Motion Technology posted sales of $221.10 million during the same quarter last year, which suggests a positive year over year growth rate of 19.1%. The business is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Silicon Motion Technology will report full-year sales of $1.14 billion for the current fiscal year, with estimates ranging from $1.09 billion to $1.17 billion. For the next year, analysts forecast that the firm will report sales of $1.24 billion, with estimates ranging from $1.08 billion to $1.40 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMOGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The semiconductor producer reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.19. Silicon Motion Technology had a return on equity of 33.47% and a net margin of 22.42%. The business had revenue of $242.00 million for the quarter, compared to analysts’ expectations of $239.46 million. During the same period in the previous year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 32.7% on a year-over-year basis.

A number of equities research analysts have issued reports on SIMO shares. Susquehanna Bancshares downgraded Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research report on Thursday, May 5th. B. Riley cut Silicon Motion Technology from a “buy” rating to a “neutral” rating in a research report on Friday, May 6th. Needham & Company LLC cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Susquehanna cut Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research report on Thursday, May 5th. Finally, Roth Capital cut Silicon Motion Technology from a “buy” rating to a “neutral” rating in a report on Thursday, May 5th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $101.13.

Silicon Motion Technology stock traded down $1.07 during mid-day trading on Monday, reaching $89.78. 920,585 shares of the stock traded hands, compared to its average volume of 1,504,739. The business’s 50-day moving average is $78.15 and its 200-day moving average is $79.18. The stock has a market capitalization of $3.09 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. Silicon Motion Technology has a 12-month low of $58.86 and a 12-month high of $98.65.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Wednesday, May 11th. Silicon Motion Technology’s dividend payout ratio (DPR) is 31.44%.

A number of large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its stake in Silicon Motion Technology by 4.8% during the first quarter. Acadian Asset Management LLC now owns 1,496,316 shares of the semiconductor producer’s stock worth $99,946,000 after purchasing an additional 67,956 shares in the last quarter. AIGH Capital Management LLC acquired a new position in Silicon Motion Technology during the third quarter worth $29,117,000. Baillie Gifford & Co. lifted its stake in Silicon Motion Technology by 8.1% during the first quarter. Baillie Gifford & Co. now owns 788,897 shares of the semiconductor producer’s stock worth $52,713,000 after purchasing an additional 58,907 shares in the last quarter. Bank of America Corp DE lifted its stake in Silicon Motion Technology by 2.3% during the fourth quarter. Bank of America Corp DE now owns 740,077 shares of the semiconductor producer’s stock worth $70,329,000 after purchasing an additional 16,375 shares in the last quarter. Finally, State Street Corp increased its position in shares of Silicon Motion Technology by 2.0% during the first quarter. State Street Corp now owns 643,896 shares of the semiconductor producer’s stock worth $42,957,000 after acquiring an additional 12,508 shares during the period. Institutional investors own 76.60% of the company’s stock.

Silicon Motion Technology Company Profile (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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