Silicon Motion Technology Co. (NASDAQ:SIMO) Expected to Post Earnings of $1.52 Per Share

Equities research analysts expect that Silicon Motion Technology Co. (NASDAQ:SIMO - Get Rating) will post earnings of $1.52 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Silicon Motion Technology's earnings. The highest EPS estimate is $1.67 and the lowest is $1.32. Silicon Motion Technology posted earnings per share of $1.11 in the same quarter last year, which suggests a positive year-over-year growth rate of 36.9%. The business is expected to announce its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Silicon Motion Technology will report full-year earnings of $7.75 per share for the current year, with EPS estimates ranging from $6.81 to $8.32. For the next year, analysts anticipate that the business will post earnings of $8.92 per share, with EPS estimates ranging from $6.56 to $10.52. Zacks' earnings per share calculations are a mean average based on a survey of analysts that cover Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO - Get Rating) last issued its earnings results on Wednesday, January 26th. The semiconductor producer reported $1.73 EPS for the quarter, topping the consensus estimate of $1.57 by $0.16. The business had revenue of $264.36 million during the quarter, compared to the consensus estimate of $263.85 million. Silicon Motion Technology had a return on equity of 30.69% and a net margin of 21.68%. During the same quarter last year, the company earned $0.04 EPS.

SIMO has been the topic of a number of research reports. Cowen raised their price objective on Silicon Motion Technology from $105.00 to $110.00 in a report on Friday, January 28th. B. Riley decreased their price target on Silicon Motion Technology from $135.00 to $106.00 and set a "buy" rating on the stock in a research note on Monday, April 11th. Needham & Company LLC lifted their price target on Silicon Motion Technology from $115.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, January 28th. Zacks Investment Research raised Silicon Motion Technology from a "strong sell" rating to a "buy" rating and set a $85.00 target price on the stock in a research note on Wednesday, February 2nd. Finally, StockNews.com assumed coverage on Silicon Motion Technology in a research note on Thursday, March 31st. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $101.13.

Shares of SIMO traded up $0.41 during trading hours on Friday, reaching $77.09. 863,924 shares of the company's stock traded hands, compared to its average volume of 688,257. The stock has a market cap of $2.69 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The firm's 50 day simple moving average is $72.02 and its 200-day simple moving average is $76.61. Silicon Motion Technology has a 12 month low of $58.86 and a 12 month high of $96.89.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, May 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.59%. Silicon Motion Technology's dividend payout ratio is presently 34.85%.

Several institutional investors have recently bought and sold shares of SIMO. Truist Financial Corp lifted its position in Silicon Motion Technology by 127.5% during the 1st quarter. Truist Financial Corp now owns 25,079 shares of the semiconductor producer's stock worth $1,675,000 after acquiring an additional 14,056 shares during the period. Beach Investment Counsel Inc. PA acquired a new stake in Silicon Motion Technology during the 4th quarter worth about $2,468,000. Optimum Investment Advisors acquired a new stake in Silicon Motion Technology during the 4th quarter worth about $48,000. BlackRock Inc. lifted its position in Silicon Motion Technology by 46.5% during the 4th quarter. BlackRock Inc. now owns 54,147 shares of the semiconductor producer's stock worth $5,146,000 after acquiring an additional 17,178 shares during the period. Finally, Wealthsource Partners LLC purchased a new position in shares of Silicon Motion Technology during the 4th quarter valued at about $237,000. 79.06% of the stock is owned by hedge funds and other institutional investors.

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 SSDs used in PCs and other devices, as well as eMMC and UFS mobile embedded storage used in smartphones and IOT devices. The company also provides enterprise-grade SSDs used in data centers; and small form-factor specialized SSDs used in industrial, commercial, and automotive applications.

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