Equities analysts expect that Silicon Motion Technology Corporation (NASDAQ:SIMO) will post earnings per share of $0.60 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Silicon Motion Technology’s earnings, with estimates ranging from $0.39 to $0.70. Silicon Motion Technology reported earnings of $0.95 per share during the same quarter last year, which indicates a negative year over year growth rate of 36.8%. The business is expected to announce its next quarterly earnings results on Monday, January 22nd.

On average, analysts expect that Silicon Motion Technology will report full year earnings of $2.64 per share for the current financial year, with EPS estimates ranging from $2.59 to $2.66. For the next year, analysts anticipate that the business will post earnings of $3.33 per share, with EPS estimates ranging from $3.05 to $3.77. Zacks’ EPS calculations are an average based on a survey of research firms that cover Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Friday, October 27th. The semiconductor producer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $127.20 million for the quarter, compared to the consensus estimate of $127.24 million. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. The company’s revenue was down 19.8% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS.

Several equities research analysts recently commented on the company. BidaskClub upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday. ValuEngine upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday. Northland Securities restated a “buy” rating and set a $60.00 price objective on shares of Silicon Motion Technology in a report on Sunday, October 29th. Needham & Company LLC restated a “buy” rating and set a $57.00 price objective on shares of Silicon Motion Technology in a report on Friday, October 27th. Finally, B. Riley set a $69.00 price objective on Silicon Motion Technology and gave the stock a “buy” rating in a report on Wednesday, October 25th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $57.67.

Institutional investors and hedge funds have recently modified their holdings of the company. ARGA Investment Management LP boosted its position in Silicon Motion Technology by 6.2% during the 3rd quarter. ARGA Investment Management LP now owns 1,839,779 shares of the semiconductor producer’s stock valued at $88,365,000 after purchasing an additional 106,900 shares during the period. Investec Asset Management LTD boosted its position in Silicon Motion Technology by 46.4% during the 2nd quarter. Investec Asset Management LTD now owns 1,638,818 shares of the semiconductor producer’s stock valued at $79,040,000 after purchasing an additional 519,631 shares during the period. William Blair Investment Management LLC boosted its position in Silicon Motion Technology by 170.4% during the 2nd quarter. William Blair Investment Management LLC now owns 947,862 shares of the semiconductor producer’s stock valued at $45,715,000 after purchasing an additional 597,352 shares during the period. Royce & Associates LP boosted its position in Silicon Motion Technology by 78.0% during the 3rd quarter. Royce & Associates LP now owns 801,540 shares of the semiconductor producer’s stock valued at $38,498,000 after purchasing an additional 351,140 shares during the period. Finally, Teachers Advisors LLC boosted its position in Silicon Motion Technology by 27.9% during the 2nd quarter. Teachers Advisors LLC now owns 787,674 shares of the semiconductor producer’s stock valued at $37,990,000 after purchasing an additional 171,989 shares during the period. Institutional investors own 82.84% of the company’s stock.

Shares of Silicon Motion Technology (NASDAQ:SIMO) opened at $51.99 on Tuesday. The company has a market capitalization of $1,840.00, a PE ratio of 19.61 and a beta of 0.65. Silicon Motion Technology has a twelve month low of $37.37 and a twelve month high of $55.68.

The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Thursday, November 9th were given a $0.30 dividend. This is a positive change from Silicon Motion Technology’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, November 8th. This represents a $1.20 annualized dividend and a dividend yield of 2.31%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 34.77%.

ILLEGAL ACTIVITY NOTICE: “Analysts Anticipate Silicon Motion Technology Corporation (SIMO) Will Post Earnings of $0.60 Per Share” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another domain, it was stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/05/analysts-anticipate-silicon-motion-technology-corporation-simo-will-post-earnings-of-0-60-per-share.html.

About Silicon Motion Technology

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.

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

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