Brokerages Expect Silicon Motion Technology Co. (NASDAQ:SIMO) Will Announce Quarterly Sales of $243.56 Million

Wall Street analysts expect Silicon Motion Technology Co. (NASDAQ:SIMO) to announce sales of $243.56 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Silicon Motion Technology’s earnings. The lowest sales estimate is $243.50 million and the highest is $243.68 million. Silicon Motion Technology posted sales of $126.04 million in the same quarter last year, which suggests a positive year-over-year growth rate of 93.2%. The business is scheduled to issue its next earnings results on Monday, November 1st.

On average, analysts expect that Silicon Motion Technology will report full-year sales of $902.59 million for the current year, with estimates ranging from $899.98 million to $903.60 million. For the next year, analysts anticipate that the company will post sales of $1.01 billion, with estimates ranging from $869.62 million to $1.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Thursday, July 29th. The semiconductor producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.11. Silicon Motion Technology had a net margin of 16.27% and a return on equity of 18.30%. The business had revenue of $221.10 million during the quarter, compared to analysts’ expectations of $203.95 million.

Several analysts have recently commented on SIMO shares. Needham & Company LLC raised their target price on shares of Silicon Motion Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 2nd. B. Riley raised their target price on shares of Silicon Motion Technology from $94.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 2nd. Morgan Stanley upgraded shares of Silicon Motion Technology from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $68.00 to $78.00 in a report on Thursday, August 12th. Cowen lifted their price target on shares of Silicon Motion Technology from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, August 2nd. Finally, Craig Hallum raised their target price on shares of Silicon Motion Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $88.63.

NASDAQ:SIMO traded up $0.64 during trading hours on Friday, reaching $75.12. 165,422 shares of the company’s stock were exchanged, compared to its average volume of 441,163. Silicon Motion Technology has a 1-year low of $35.16 and a 1-year high of $81.87. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 1.76 and a beta of 1.11. The company has a 50-day moving average of $71.89 and a 200 day moving average of $67.17.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 5th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Wednesday, August 4th. Silicon Motion Technology’s dividend payout ratio (DPR) is 60.96%.

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Silicon Motion Technology in the first quarter worth about $27,000. Employees Retirement System of Texas acquired a new stake in Silicon Motion Technology in the second quarter worth about $67,000. Cullen Frost Bankers Inc. acquired a new stake in Silicon Motion Technology in the second quarter worth about $71,000. Heritage Wealth Management LLC lifted its holdings in Silicon Motion Technology by 57.7% in the second quarter. Heritage Wealth Management LLC now owns 1,424 shares of the semiconductor producer’s stock worth $91,000 after purchasing an additional 521 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Silicon Motion Technology by 40.6% in the first quarter. Bank of Montreal Can now owns 1,429 shares of the semiconductor producer’s stock worth $99,000 after purchasing an additional 413 shares during the period. 74.04% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corp. engages in the development, manufacture and supply of semiconductor products for the electronics market. The firm products include Flash Controllers, Storage Solutions, and others. It offers embedded and expandable storage, radio frequency integrated circuits and embedded graphics.

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

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