Stock analysts expect Silicon Motion Technology Co. (NASDAQ: SIMO – Get Rating) will report sales of $ 263.42 million for the current quarter, according to Zacks Investment Research. Five analysts estimated Silicon Motion Technology’s profits ranging from $ 251.16 million to $ 285.54 million. Silicon Motion Technology reported sales of $ 221.10 million in the same quarter last year, which is a positive growth of 19.1% over the previous year. The company is expected to announce its next earnings report on Monday, January 1st.
According to Zacks, analysts expect Silicon Motion Technology to report full-year sales of $ 1.14 billion for the current fiscal year, with estimates ranging from $ 1.09 billion to $ 1.17 billion. For next year, analysts expect the business to report sales of $ 1.24 billion, with estimates ranging from $ 1.08 billion to $ 1.40 billion. Zacks Investment Research sales averages are averages based on a survey of analysts covering Silicon Motion Technology.
Silicon Motion Technology (NASDAQ: SIMO – Get Rating) last announced its results on Thursday, May 5th. The semiconductor maker reported earnings of $ 1.60 per share for the quarter, beating the consensus estimate of $ 1.41 by $ 0.19. Silicon Motion Technology had a net margin of 22.42% and a return on equity of 33.47%. The company had revenue of $ 242.00 million in the quarter, compared to analysts’ estimates of $ 239.46 million. In the same quarter last year, the company reported $ 0.98 earnings per share. Silicon Motion Technology’s revenue increased 32.7% compared to the same quarter last year.
A number of research companies have joined SIMO. Susquehanna cut shares of Silicon Motion Technology from a “positive” rating to “neutral” in a report on Thursday, May 5. B. Riley downgraded Silicon Motion Technology from “buy” to “neutral” in a research report on Friday, May 6. Roth Capital downgraded Silicon Motion Technology from buying to neutral in a research report on Thursday (May 5th). Needham & Company LLC downgraded shares of Silicon Motion Technology from a buy rating to a hold rating in a research report on Thursday, May 5th. Finally, Zacks Investment Research downgraded Silicon Motion Technology from a buy rating to a hold rating and set a $ 95.00 share price. in a research report Monday, May 30th. Seven analysts rated the shares with a retention rating, and three issued a rating for the purchase of the company’s shares. According to MarketBeat, Silicon Motion Technology currently has a consensus hold rating and a consensus target of $ 102.38.
Several major investors have recently added or reduced their stakes in SIMO. Acadian Asset Management LLC increased its stake in Silicon Motion Technology by 4.8% in the first quarter. Acadian Asset Management LLC already owns 1,496,316 shares of the semiconductor maker worth $ 99,946,000 after acquiring an additional 67,956 shares in the last quarter. Baillie Gifford & Co. increased its stake in Silicon Motion Technology by 8.1% in the first quarter. Baillie Gifford & Co. now owns 788,897 shares of the semiconductor maker’s stock worth $ 52,713,000 after buying an additional 58,907 shares in the last quarter. Bank of America Corp. DE increased its stake in Silicon Motion Technology by 2.3% in the fourth quarter. Bank of America Corp. DE already owns 740,077 shares of the semiconductor maker worth $ 70,329,000 after buying an additional 16,375 shares in the last quarter. State Street Corp. increased its stake in Silicon Motion Technology by 2.0% in the first quarter. State Street Corp. now owns 643,896 shares of the semiconductor maker’s stock, valued at $ 42,957,000, after buying an additional 12,508 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Silicon Motion Technology by 16.5% in the first quarter. Massachusetts Financial Services Co. MA already owns 608,035 shares of the semiconductor maker’s stock worth $ 40,629,000 after buying an additional 86,241 shares in the last quarter. Institutional investors and hedge funds own 76.60% of the company’s shares.
Shares of Silicon Motion Technology opened at $ 91.58 on Tuesday. Silicon Motion Technology has a 52-week low of $ 58.86 and a 52-week high of $ 98.65. The company has a 50-day moving average of $ 82.62 and a 200-day moving average of $ 80.91. The company has a market capitalization of $ 3.15 billion, a P / E ratio of 14.47, a P / E / G ratio of 1.36 and a beta ratio of 1.00.
The company also recently announced a quarterly dividend, which was paid on Thursday (May 26th). Record investors on Thursday, May 12, received a dividend of $ 0.50 per share. The date of the former dividend was Wednesday, May 11. This represents a $ 2.00 annual dividend and a yield of 2.18%. Silicon Motion Technology’s dividend payout ratio is currently 31.44%.
About Silicon Motion Technology (Get an estimate)
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops and markets NAND flash controllers for solid state storage devices. It offers controllers for computing solid state drives (SSDs), which are used in computers and other client devices; Enterprise-class SSDs used in data centers; eMMC and UFS mobile built-in storage for use in smartphones and IoT devices; Flash memory cards and flash memory for use in expandable storage; and specialized SSDs used in industrial, commercial and automotive applications.
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