Silicon Motion Technology Corp. (SIMO) Expected to Post Q1 2018 Earnings of $0.58 Per Share

Silicon Motion Technology Corp. (NASDAQ:SIMO) – B. Riley raised their Q1 2018 earnings estimates for shares of Silicon Motion Technology in a report issued on Wednesday. B. Riley analyst M. Crawford now anticipates that the semiconductor producer will earn $0.58 per share for the quarter, up from their prior forecast of $0.57. B. Riley has a “Buy” rating and a $68.75 price objective on the stock. B. Riley also issued estimates for Silicon Motion Technology’s Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $2.97 EPS and FY2019 earnings at $3.60 EPS.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Silicon Motion Technology from a “hold” rating to a “sell” rating in a research note on Monday. BidaskClub downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. KeyCorp restated a “buy” rating and issued a $54.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, February 7th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, January 17th. Finally, Susquehanna Bancshares restated a “neutral” rating and issued a $48.00 price objective (down previously from $60.00) on shares of Silicon Motion Technology in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $56.56.

Silicon Motion Technology (SIMO) opened at $44.69 on Monday. The company has a market cap of $1,580.00, a price-to-earnings ratio of 21.28 and a beta of 0.47. Silicon Motion Technology has a 12 month low of $39.91 and a 12 month high of $56.51.

The firm also recently announced a None dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Monday, February 12th will be issued a $0.298 dividend. The ex-dividend date is Friday, February 9th. This represents a dividend yield of 2.12%. Silicon Motion Technology’s payout ratio is 47.14%.

Large investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. purchased a new stake in shares of Silicon Motion Technology in the third quarter valued at about $101,000. Advisors Preferred LLC raised its holdings in shares of Silicon Motion Technology by 451.0% in the third quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock valued at $128,000 after buying an additional 2,183 shares during the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Silicon Motion Technology in the third quarter valued at about $251,000. Virtu KCG Holdings LLC raised its holdings in shares of Silicon Motion Technology by 25.3% in the second quarter. Virtu KCG Holdings LLC now owns 5,770 shares of the semiconductor producer’s stock valued at $278,000 after buying an additional 1,164 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Silicon Motion Technology in the second quarter valued at about $399,000. 83.10% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Silicon Motion Technology Corp. (SIMO) Expected to Post Q1 2018 Earnings of $0.58 Per Share” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/02/14/silicon-motion-technology-corp-simo-expected-to-post-q1-2018-earnings-of-0-58-per-share.html.

About Silicon Motion Technology

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

Receive News & Ratings for Silicon Motion Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply