Equities analysts expect that Silicon Motion Technology Co. (NASDAQ:SIMO) will report $173.00 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Silicon Motion Technology's earnings, with estimates ranging from $159.00 million to $180.00 million. Silicon Motion Technology reported sales of $132.77 million in the same quarter last year, which would suggest a positive year over year growth rate of 30.3%. The business is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, May 5th.
According to Zacks, analysts expect that Silicon Motion Technology will report full-year sales of $699.40 million for the current fiscal year, with estimates ranging from $682.30 million to $727.50 million. For the next financial year, analysts anticipate that the firm will report sales of $789.37 million, with estimates ranging from $742.00 million to $848.00 million. Zacks' sales calculations are a mean average based on a survey of research analysts that cover Silicon Motion Technology.
Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Tuesday, February 2nd. The semiconductor producer reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.71 by $0.15. The business had revenue of $143.90 million for the quarter, compared to analyst estimates of $143.08 million. Silicon Motion Technology had a return on equity of 18.13% and a net margin of 18.92%. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share.
SIMO has been the topic of a number of recent research reports. Zacks Investment Research raised Silicon Motion Technology from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a report on Monday, January 11th. Roth Capital boosted their target price on Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, April 8th. Craig Hallum boosted their target price on Silicon Motion Technology from $55.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, February 4th. Needham & Company LLC upped their price objective on Silicon Motion Technology from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, April 13th. Finally, B. Riley upped their price objective on Silicon Motion Technology from $75.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of "Buy" and an average price target of $67.33.
NASDAQ:SIMO opened at $66.63 on Monday. The firm has a market cap of $2.34 billion, a P/E ratio of 22.43, a PEG ratio of 2.08 and a beta of 1.06. The stock's 50 day simple moving average is $62.54 and its 200-day simple moving average is $49.88. Silicon Motion Technology has a 12-month low of $35.13 and a 12-month high of $70.94.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Thursday, May 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, May 5th. Silicon Motion Technology's dividend payout ratio (DPR) is 76.37%.
Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in Silicon Motion Technology in the fourth quarter valued at $34,000. Valeo Financial Advisors LLC acquired a new stake in Silicon Motion Technology in the fourth quarter valued at $124,000. Veriti Management LLC acquired a new stake in Silicon Motion Technology in the fourth quarter valued at $165,000. Canandaigua National Corp acquired a new stake in Silicon Motion Technology in the first quarter valued at $231,000. Finally, Truist Financial Corp acquired a new stake in Silicon Motion Technology in the fourth quarter valued at $221,000. 66.72% of the stock is currently owned by institutional investors.
Silicon Motion Technology Company Profile
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It offers solid-state drive (SSDs) used in PCs and other devices, as well as embedded multimediacard (eMMC) and UFS mobile embedded storage used in smartphones.
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