Silicon Motion Technology Corporation (NASDAQ:SIMO) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, October 26th. Analysts expect the company to announce earnings of $0.55 per share for the quarter.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last released its quarterly earnings results on Monday, July 31st. The semiconductor producer reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.04). Silicon Motion Technology Corporation had a net margin of 18.91% and a return on equity of 24.24%. The company had revenue of $132.70 million during the quarter, compared to analyst estimates of $132.92 million. During the same quarter last year, the business earned $0.86 EPS. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. On average, analysts expect Silicon Motion Technology Corporation to post $2.69 EPS for the current fiscal year and $3.52 EPS for the next fiscal year.

Silicon Motion Technology Corporation (NASDAQ:SIMO) opened at 52.37 on Thursday. Silicon Motion Technology Corporation has a 52-week low of $37.37 and a 52-week high of $55.68. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 17.70 and a beta of 0.70. The company has a 50 day moving average price of $48.15 and a 200-day moving average price of $47.31.

Silicon Motion Technology Corporation announced that its Board of Directors has initiated a stock repurchase program on Monday, July 31st that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the semiconductor producer to purchase up to 13.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

SIMO has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price objective (up from $54.00) on shares of Silicon Motion Technology Corporation in a research report on Monday, October 9th. Loop Capital upped their price objective on Silicon Motion Technology Corporation from $51.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Pacific Crest reaffirmed an “overweight” rating and set a $62.00 price objective on shares of Silicon Motion Technology Corporation in a research report on Wednesday, June 21st. Zacks Investment Research raised Silicon Motion Technology Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, B. Riley reaffirmed a “buy” rating and set a $68.75 price objective on shares of Silicon Motion Technology Corporation in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Silicon Motion Technology Corporation presently has an average rating of “Buy” and a consensus price target of $57.23.

An institutional investor recently raised its position in Silicon Motion Technology Corporation stock. State Street Corp boosted its stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,417 shares of the semiconductor producer’s stock after purchasing an additional 3,509 shares during the period. State Street Corp owned 0.10% of Silicon Motion Technology Corporation worth $1,757,000 as of its most recent filing with the SEC. 81.02% of the stock is currently owned by hedge funds and other institutional investors.

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Silicon Motion Technology Corporation Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

Earnings History for Silicon Motion Technology Corporation (NASDAQ:SIMO)

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