Wall Street analysts forecast that Silicon Motion (NASDAQ:SIMO) will post $0.65 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Silicon Motion’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.70. Silicon Motion posted earnings of $0.70 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 7.1%. The business is scheduled to announce its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Silicon Motion will report full-year earnings of $3.30 per share for the current financial year, with EPS estimates ranging from $3.27 to $3.36. For the next fiscal year, analysts forecast that the business will report earnings of $3.49 per share, with EPS estimates ranging from $1.93 to $4.00. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Silicon Motion.
Silicon Motion (NASDAQ:SIMO) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.21). Silicon Motion had a net margin of 14.34% and a return on equity of 15.33%. The firm had revenue of $136.17 million during the quarter, compared to analysts’ expectations of $135.00 million.
A number of equities analysts have issued reports on SIMO shares. KeyCorp boosted their price objective on shares of Silicon Motion from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, December 14th. Nomura lowered shares of Silicon Motion from a “neutral” rating to a “reduce” rating and set a $45.00 target price on the stock. in a research note on Wednesday, January 10th. B. Riley reaffirmed a “buy” rating and set a $68.75 target price on shares of Silicon Motion in a research note on Tuesday, January 16th. ValuEngine raised shares of Silicon Motion from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Susquehanna Bancshares reaffirmed a “neutral” rating and set a $48.00 target price (down previously from $60.00) on shares of Silicon Motion in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Silicon Motion has an average rating of “Buy” and a consensus price target of $56.98.
Several institutional investors and hedge funds have recently made changes to their positions in SIMO. State Street Corp boosted its stake in Silicon Motion by 10.7% during the second quarter. State Street Corp now owns 36,417 shares of the semiconductor producer’s stock worth $1,757,000 after acquiring an additional 3,509 shares in the last quarter. First Trust Advisors LP boosted its stake in Silicon Motion by 28.9% during the third quarter. First Trust Advisors LP now owns 11,728 shares of the semiconductor producer’s stock worth $563,000 after acquiring an additional 2,626 shares in the last quarter. Sei Investments Co. boosted its stake in Silicon Motion by 15.2% during the third quarter. Sei Investments Co. now owns 26,028 shares of the semiconductor producer’s stock worth $1,250,000 after acquiring an additional 3,435 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Silicon Motion by 4.1% during the third quarter. Russell Investments Group Ltd. now owns 234,668 shares of the semiconductor producer’s stock worth $11,271,000 after acquiring an additional 9,209 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Silicon Motion by 69.2% during the third quarter. Ameriprise Financial Inc. now owns 144,631 shares of the semiconductor producer’s stock worth $6,947,000 after acquiring an additional 59,175 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SIMO stock traded down $1.39 during mid-day trading on Tuesday, reaching $47.68. The stock had a trading volume of 183,031 shares, compared to its average volume of 344,637. Silicon Motion has a 52-week low of $40.33 and a 52-week high of $56.51. The stock has a market capitalization of $1,684.44, a price-to-earnings ratio of 22.81 and a beta of 0.60.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 22nd. Stockholders of record on Thursday, August 9th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Wednesday, August 8th. Silicon Motion’s payout ratio is 47.37%.
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Silicon Motion Company Profile
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile storage and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded MultiMediaCard (eMMC), client solid-state drive (SSD), flash memory card, and Universal Serial Bus flash drive controllers.
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