Brokerages Expect Silicon Motion Technology Corp. (SIMO) Will Post Earnings of $0.63 Per Share

Equities research analysts predict that Silicon Motion Technology Corp. (NASDAQ:SIMO) will report $0.63 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Silicon Motion Technology’s earnings. The lowest EPS estimate is $0.47 and the highest is $0.69. Silicon Motion Technology reported earnings of $0.70 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 10%. The firm is scheduled to announce its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Silicon Motion Technology will report full-year earnings of $3.23 per share for the current fiscal year, with EPS estimates ranging from $3.03 to $3.36. For the next financial year, analysts expect that the firm will report earnings of $3.50 per share, with EPS estimates ranging from $1.93 to $4.10. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Silicon Motion Technology.

A number of research analysts have recently commented on the company. Nomura lowered Silicon Motion Technology from a “neutral” rating to a “reduce” rating and set a $45.00 price target for the company. in a report on Wednesday, January 10th. Zacks Investment Research lowered Silicon Motion Technology from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. BidaskClub lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Friday. Summit Redstone upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Finally, KeyCorp reiterated a “buy” rating and set a $54.00 price target on shares of Silicon Motion Technology in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Silicon Motion Technology currently has an average rating of “Buy” and a consensus price target of $56.56.

Shares of Silicon Motion Technology (NASDAQ SIMO) opened at $44.61 on Friday. Silicon Motion Technology has a 1-year low of $39.91 and a 1-year high of $56.51. The firm has a market capitalization of $1,575.98, a P/E ratio of 21.45 and a beta of 0.46.

The company also recently disclosed a None dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Monday, February 12th will be given a dividend of $0.298 per share. This represents a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, February 9th. Silicon Motion Technology’s dividend payout ratio is presently 42.79%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIMO. Daiwa Securities Group Inc. bought a new stake in shares of Silicon Motion Technology during the third quarter valued at approximately $101,000. Advisors Preferred LLC increased its position in shares of Silicon Motion Technology by 451.0% during the third quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock valued at $128,000 after purchasing an additional 2,183 shares during the period. Boothbay Fund Management LLC bought a new stake in shares of Silicon Motion Technology during the third quarter valued at approximately $251,000. Virtu KCG Holdings LLC increased its position in shares of Silicon Motion Technology by 25.3% during the second quarter. Virtu KCG Holdings LLC now owns 5,770 shares of the semiconductor producer’s stock valued at $278,000 after purchasing an additional 1,164 shares during the period. Finally, Advisor Group Inc. increased its position in shares of Silicon Motion Technology by 23.4% during the second quarter. Advisor Group Inc. now owns 6,167 shares of the semiconductor producer’s stock valued at $297,000 after purchasing an additional 1,171 shares during the period. Institutional investors and hedge funds own 82.87% of the company’s stock.

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Silicon Motion Technology 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.

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