Brokerages Expect Silicon Motion Technology Corp. (NASDAQ:SIMO) to Post $0.68 EPS

Equities research analysts expect that Silicon Motion Technology Corp. (NASDAQ:SIMO) will announce earnings per share of $0.68 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Silicon Motion Technology’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.64. Silicon Motion Technology reported earnings per share of $0.69 in the same quarter last year, which suggests a negative year over year growth rate of 1.4%. The business is scheduled to report its next quarterly earnings results after the market closes on Monday, November 2nd.

According to Zacks, analysts expect that Silicon Motion Technology will report full-year earnings of $2.94 per share for the current fiscal year, with EPS estimates ranging from $2.90 to $3.00. For the next financial year, analysts anticipate that the business will post earnings of $3.10 per share, with EPS estimates ranging from $2.89 to $3.25. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor producer reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.08. The business had revenue of $136.80 million during the quarter, compared to analyst estimates of $134.17 million. Silicon Motion Technology had a return on equity of 14.91% and a net margin of 15.71%. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue was up 38.5% on a year-over-year basis.

Several research firms recently issued reports on SIMO. Royal Bank of Canada reiterated a “hold” rating and issued a $45.00 price objective on shares of Silicon Motion Technology in a report on Thursday, July 30th. ValuEngine cut Silicon Motion Technology from a “hold” rating to a “sell” rating in a report on Friday, July 17th. Cowen boosted their target price on Silicon Motion Technology from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Silicon Motion Technology in a report on Wednesday, October 7th. Finally, Wedbush upgraded Silicon Motion Technology from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $42.00 to $46.00 in a report on Thursday, September 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Silicon Motion Technology presently has an average rating of “Hold” and a consensus price target of $52.36.

Large investors have recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in shares of Silicon Motion Technology by 1,318.9% during the 1st quarter. Morgan Stanley now owns 438,290 shares of the semiconductor producer’s stock worth $16,068,000 after buying an additional 407,400 shares in the last quarter. Marshall Wace LLP increased its position in shares of Silicon Motion Technology by 849.1% during the 2nd quarter. Marshall Wace LLP now owns 214,753 shares of the semiconductor producer’s stock valued at $10,474,000 after purchasing an additional 192,126 shares during the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of Silicon Motion Technology during the 1st quarter valued at $4,298,000. Driehaus Capital Management LLC increased its holdings in Silicon Motion Technology by 54.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 318,462 shares of the semiconductor producer’s stock worth $15,531,000 after acquiring an additional 111,910 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Silicon Motion Technology by 78.2% in the 1st quarter. Two Sigma Advisers LP now owns 210,846 shares of the semiconductor producer’s stock worth $7,730,000 after acquiring an additional 92,500 shares during the last quarter. Institutional investors own 69.75% of the company’s stock.

Shares of NASDAQ:SIMO traded up $0.45 during trading on Friday, reaching $42.40. 120,202 shares of the company’s stock traded hands, compared to its average volume of 333,382. Silicon Motion Technology has a fifty-two week low of $26.72 and a fifty-two week high of $53.04. The firm has a market cap of $1.55 billion, a PE ratio of 17.74, a P/E/G ratio of 1.76 and a beta of 1.11. The company has a 50-day simple moving average of $38.12 and a 200-day simple moving average of $41.80.

About Silicon Motion Technology

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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Earnings History and Estimates for Silicon Motion Technology (NASDAQ:SIMO)

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