Brokers Offer Predictions for Silicon Motion Technology Corp.’s Q1 2018 Earnings (SIMO)

Silicon Motion Technology Corp. (NASDAQ:SIMO) – Stock analysts at B. Riley upped their Q1 2018 earnings per share (EPS) estimates for Silicon Motion Technology in a research report issued on Wednesday. B. Riley analyst M. Crawford now forecasts that the semiconductor producer will earn $0.58 per share for the quarter, up from their previous forecast of $0.57. B. Riley has a “Buy” rating and a $68.75 price objective on the stock. B. Riley also issued estimates for Silicon Motion Technology’s Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $2.97 EPS and FY2019 earnings at $3.60 EPS.

Several other equities analysts have also recently issued reports on the stock. KeyCorp boosted their price target on shares of Silicon Motion Technology from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, December 14th. Nomura cut shares of Silicon Motion Technology from a “neutral” rating to a “reduce” rating and set a $45.00 price objective on the stock. in a report on Wednesday, January 10th. Summit Redstone upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. ValuEngine upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Silicon Motion Technology in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Silicon Motion Technology currently has a consensus rating of “Buy” and an average price target of $56.56.

Silicon Motion Technology (NASDAQ SIMO) opened at $44.61 on Monday. Silicon Motion Technology has a 52-week low of $39.91 and a 52-week high of $56.51. The stock has a market cap of $1,575.98, a PE ratio of 21.45 and a beta of 0.46.

A number of institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its position in Silicon Motion Technology by 1.2% during the second quarter. Wells Fargo & Company MN now owns 58,659 shares of the semiconductor producer’s stock valued at $2,829,000 after purchasing an additional 701 shares during the period. Virtu KCG Holdings LLC lifted its position in 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. SG Americas Securities LLC lifted its position in Silicon Motion Technology by 14.1% during the fourth quarter. SG Americas Securities LLC now owns 11,234 shares of the semiconductor producer’s stock valued at $595,000 after purchasing an additional 1,390 shares during the period. DnB Asset Management AS lifted its position in Silicon Motion Technology by 11.8% during the fourth quarter. DnB Asset Management AS now owns 13,300 shares of the semiconductor producer’s stock valued at $704,000 after purchasing an additional 1,400 shares during the period. Finally, California Public Employees Retirement System lifted its position in Silicon Motion Technology by 3.0% during the third quarter. California Public Employees Retirement System now owns 69,103 shares of the semiconductor producer’s stock valued at $3,319,000 after purchasing an additional 2,003 shares during the period. Institutional investors own 82.87% of the company’s stock.

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

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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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