Brokerages expect that Silicon Motion (NASDAQ:SIMO) will announce $138.45 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Silicon Motion’s earnings. The lowest sales estimate is $137.60 million and the highest is $139.31 million. Silicon Motion reported sales of $132.73 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The company is scheduled to issue its next quarterly earnings report on Monday, July 30th.
On average, analysts expect that Silicon Motion will report full year sales of $568.38 million for the current year, with estimates ranging from $563.00 million to $578.58 million. For the next year, analysts anticipate that the firm will report sales of $624.89 million per share, with estimates ranging from $602.00 million to $651.47 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Silicon Motion.
A number of research firms have commented on SIMO. BidaskClub upgraded Silicon Motion from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 29th. KeyCorp reissued a “buy” rating and issued a $54.00 price objective on shares of Silicon Motion in a research note on Wednesday, February 7th. Susquehanna Bancshares reissued a “neutral” rating and issued a $48.00 price objective (down from $60.00) on shares of Silicon Motion in a research note on Tuesday, January 16th. Zacks Investment Research raised Silicon Motion from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. Finally, UBS downgraded Silicon Motion from a “positive” rating to a “neutral” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.83.
A number of hedge funds have recently bought and sold shares of SIMO. Castleark Management LLC acquired a new position in Silicon Motion during the 4th quarter worth approximately $148,000. EP Wealth Advisors LLC acquired a new position in Silicon Motion during the 4th quarter worth approximately $233,000. Comerica Securities Inc. acquired a new position in Silicon Motion during the 1st quarter worth approximately $265,000. Morse Asset Management Inc acquired a new position in Silicon Motion during the 1st quarter worth approximately $561,000. Finally, SG Americas Securities LLC raised its stake in Silicon Motion by 14.1% during the 4th quarter. SG Americas Securities LLC now owns 11,234 shares of the semiconductor producer’s stock worth $595,000 after buying an additional 1,390 shares during the period. 86.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of Silicon Motion traded up $1.23, reaching $49.49, during trading on Wednesday, according to MarketBeat. The company had a trading volume of 315,137 shares, compared to its average volume of 465,320. Silicon Motion has a 12 month low of $48.50 and a 12 month high of $49.59. The firm has a market capitalization of $1.74 billion, a PE ratio of 23.68 and a beta of 0.63.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 22nd. Investors 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 yield of 2.42%. The ex-dividend date is Wednesday, August 8th. Silicon Motion’s dividend payout ratio (DPR) is currently 52.15%.
About Silicon Motion
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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