Silicon Motion Technology (SIMO) Set to Announce Earnings on Thursday

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) is scheduled to be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Silicon Motion Technology has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Parties that wish to listen to the company's conference call can do so using this link.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. The firm had revenue of $202.38 million during the quarter, compared to analysts' expectations of $197.60 million. Silicon Motion Technology had a return on equity of 7.01% and a net margin of 8.27%. On average, analysts expect Silicon Motion Technology to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Silicon Motion Technology Price Performance

SIMO traded down $0.80 during trading on Thursday, reaching $72.93. 382,451 shares of the stock were exchanged, compared to its average volume of 443,908. Silicon Motion Technology has a 1 year low of $49.50 and a 1 year high of $95.33. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 46.66, a P/E/G ratio of 3.91 and a beta of 0.85. The business's 50 day moving average price is $73.93 and its two-hundred day moving average price is $64.87.

Silicon Motion Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, May 8th. Silicon Motion Technology's dividend payout ratio (DPR) is presently 125.95%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SIMO. Wedbush reissued an "outperform" rating and set a $85.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, April 10th. B. Riley upped their price objective on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the company a "buy" rating in a research note on Wednesday, April 10th. Craig Hallum boosted their target price on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. increased their price target on shares of Silicon Motion Technology from $77.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Finally, Needham & Company LLC lifted their price target on shares of Silicon Motion Technology from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $87.57.

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. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.