Equities research analysts predict that Silicon Motion Technology Corp. (NASDAQ:SIMO) will announce sales of $129.62 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Silicon Motion Technology’s earnings. The lowest sales estimate is $128.34 million and the highest is $130.90 million. Silicon Motion Technology reported sales of $127.29 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.8%. The firm is expected to report its next earnings results on Thursday, April 26th.
On average, analysts expect that Silicon Motion Technology will report full year sales of $129.62 million for the current fiscal year, with estimates ranging from $567.40 million to $573.11 million. For the next year, analysts anticipate that the company will report sales of $651.37 million per share, with estimates ranging from $623.86 million to $680.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Silicon Motion Technology.
A number of analysts recently issued reports on SIMO shares. KeyCorp raised their price objective on shares of Silicon Motion Technology from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, December 14th. Nomura downgraded shares of Silicon Motion Technology from a “neutral” rating to a “reduce” rating and set a $45.00 price objective for the company. 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. B. Riley restated a “buy” rating and set a $68.75 price objective on shares of Silicon Motion Technology in a report on Tuesday, January 16th. Finally, ValuEngine upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Silicon Motion Technology has an average rating of “Buy” and an average target price of $56.56.
Shares of Silicon Motion Technology (SIMO) opened at $44.67 on Tuesday. Silicon Motion Technology has a 1-year low of $39.91 and a 1-year high of $56.51. The stock has a market cap of $1,575.98, a PE ratio of 21.48 and a beta of 0.46.
The firm also recently announced a None dividend, which will be paid on Tuesday, February 27th. Shareholders 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 is presently 42.79%.
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.
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