Equities research analysts expect Silicon Motion Technology Co. (NASDAQ:SIMO) to post $203.95 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Silicon Motion Technology's earnings. The highest sales estimate is $220.00 million and the lowest is $195.26 million. Silicon Motion Technology reported sales of $136.81 million in the same quarter last year, which indicates a positive year-over-year growth rate of 49.1%. The company is expected to issue its next quarterly earnings results after the market closes on Thursday, July 29th.
On average, analysts expect that Silicon Motion Technology will report full-year sales of $813.94 million for the current financial year, with estimates ranging from $803.16 million to $832.40 million. For the next year, analysts expect that the firm will report sales of $895.10 million, with estimates ranging from $856.48 million to $950.00 million. Zacks Investment Research's sales averages are an average based on a survey of sell-side analysts that that provide coverage for Silicon Motion Technology.
Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Wednesday, May 5th. The semiconductor producer reported $0.98 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.71 by $0.27. Silicon Motion Technology had a net margin of 14.98% and a return on equity of 15.07%. The firm had revenue of $182.40 million for the quarter, compared to the consensus estimate of $180.00 million.
Several brokerages have recently commented on SIMO. Needham & Company LLC boosted their target price on shares of Silicon Motion Technology from $82.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, May 6th. Roth Capital boosted their target price on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, April 8th. B. Riley boosted their target price on shares of Silicon Motion Technology from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, May 7th. Finally, Morgan Stanley reiterated an "underweight" rating on shares of Silicon Motion Technology in a research report on Tuesday, May 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of "Buy" and a consensus target price of $70.00.
Shares of NASDAQ:SIMO opened at $61.81 on Thursday. Silicon Motion Technology has a 52 week low of $35.13 and a 52 week high of $74.10. The firm has a fifty day moving average price of $63.77. The firm has a market cap of $2.16 billion, a P/E ratio of 24.53, a PEG ratio of 1.60 and a beta of 1.11.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 19th. Shareholders of record on Thursday, August 5th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 4th. This represents a $1.40 annualized dividend and a yield of 2.27%. Silicon Motion Technology's dividend payout ratio is currently 60.96%.
Large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH raised its holdings in Silicon Motion Technology by 824.6% during the 1st quarter. Allianz Asset Management GmbH now owns 57,047 shares of the semiconductor producer's stock worth $3,388,000 after purchasing an additional 50,877 shares during the last quarter. BancorpSouth Bank raised its holdings in Silicon Motion Technology by 1.8% during the 1st quarter. BancorpSouth Bank now owns 15,989 shares of the semiconductor producer's stock worth $949,000 after purchasing an additional 281 shares during the last quarter. Natixis Advisors L.P. raised its holdings in Silicon Motion Technology by 21.4% during the 1st quarter. Natixis Advisors L.P. now owns 114,915 shares of the semiconductor producer's stock worth $6,824,000 after purchasing an additional 20,221 shares during the last quarter. Rice Hall James & Associates LLC raised its holdings in Silicon Motion Technology by 28.4% during the 4th quarter. Rice Hall James & Associates LLC now owns 704,483 shares of the semiconductor producer's stock worth $33,921,000 after purchasing an additional 155,670 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of Silicon Motion Technology by 6.9% in the 1st quarter. Baillie Gifford & Co. now owns 621,711 shares of the semiconductor producer's stock valued at $36,924,000 after acquiring an additional 40,270 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other 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 SSDs used in PCs and other devices, as well as eMMC and UFS mobile embedded storage used in smartphones and IOT devices. The company also provides enterprise-grade SSDs used in data centers; and small form-factor specialized SSDs used in industrial, commercial, and automotive applications.
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