Analysts Anticipate Silicon Motion Technology Co. (NASDAQ:SIMO) Will Announce Quarterly Sales of $173.00 Million

Last updated on Monday, April 19, 2021 | 2021 MarketBeat

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.

Recommended Story: What are the qualifications of a portfolio manager?

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Investing in Blue-Chip Stocks



7 Hotel Stocks Just Waiting For the Vaccine

Like any group of stocks related to travel and tourism, hotel stocks saw a steep drop in share prices in 2020. The leisure and hospitality sector that once had 15 million employees has lost 4 million jobs since February.

Many major cities will be feeling the ripple effects of the Covid-19 pandemic for years. However, there is ample evidence that shows the pandemic may be coming to an end. The number of new cases is dropping. The number of those getting vaccinated is rising. And even in the cities with the most restrictive mitigation measures, the slow process of reopening is beginning.

All of this can’t come fast enough for individuals who rely on the travel and tourism industry for their livelihood. Hotel chains had at least some revenue coming in the door. And when earnings season concludes, the more budget-friendly hotel chains may realize revenue that is 75% of its 2019 numbers. But that is not enough to bring the hotels to anywhere near full employment. Particularly with hotels that have bars and restaurants that have remained closed or open at limited capacity.

Many economists are optimistic that travel may begin to look more normal by the summer of this year. And the global economy may deliver 6.4% GDP growth this year. With that in mind, the hotel chains with the best fundamentals and the broadest footprint will be in the best position as the economy reopens.

View the "7 Hotel Stocks Just Waiting For the Vaccine".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Learn more.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.