$129.62 Million in Sales Expected for Silicon Motion Technology Corp. (SIMO) This Quarter

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.

Large investors have recently modified their holdings of the business. Daiwa Securities Group Inc. bought a new position in shares of Silicon Motion Technology in the third quarter valued at approximately $101,000. Advisors Preferred LLC boosted its position in shares of Silicon Motion Technology by 451.0% in the third quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock valued at $128,000 after acquiring an additional 2,183 shares during the period. Boothbay Fund Management LLC bought a new position in shares of Silicon Motion Technology in the third quarter valued at approximately $251,000. Virtu KCG Holdings LLC boosted its position in shares of Silicon Motion Technology by 25.3% in the second quarter. Virtu KCG Holdings LLC now owns 5,770 shares of the semiconductor producer’s stock valued at $278,000 after acquiring an additional 1,164 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Silicon Motion Technology in the second quarter valued at approximately $399,000. Hedge funds and other institutional investors own 83.10% of the company’s stock.

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%.

WARNING: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/13/129-62-million-in-sales-expected-for-silicon-motion-technology-corp-simo-this-quarter.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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply