Brokerages forecast that Silicon Motion Technology Co. (NASDAQ:SIMO) will announce earnings per share (EPS) of $1.53 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Silicon Motion Technology’s earnings, with the lowest EPS estimate coming in at $1.32 and the highest estimate coming in at $1.62. Silicon Motion Technology posted earnings of $0.76 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 101.3%. The business is scheduled to announce its next quarterly earnings report on Monday, November 1st.
According to Zacks, analysts expect that Silicon Motion Technology will report full year earnings of $5.74 per share for the current year, with EPS estimates ranging from $5.10 to $5.92. For the next fiscal year, analysts anticipate that the firm will report earnings of $6.49 per share, with EPS estimates ranging from $5.59 to $7.16. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Silicon Motion Technology.
Several analysts have recently issued reports on SIMO shares. Morgan Stanley restated an “underweight” rating on shares of Silicon Motion Technology in a research report on Tuesday, May 25th. Cowen upped their price objective on Silicon Motion Technology from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, August 2nd. Needham & Company LLC upped their price objective on Silicon Motion Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 2nd. Craig Hallum upped their price objective on Silicon Motion Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, August 2nd. Finally, B. Riley upped their price objective on Silicon Motion Technology from $94.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 2nd. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Silicon Motion Technology has an average rating of “Buy” and a consensus target price of $86.38.
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Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Silicon Motion Technology in the first quarter valued at about $27,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Silicon Motion Technology in the second quarter valued at about $71,000. International Assets Investment Management LLC grew its stake in shares of Silicon Motion Technology by 100.0% in the first quarter. International Assets Investment Management LLC now owns 1,400 shares of the semiconductor producer’s stock valued at $76,000 after buying an additional 700 shares in the last quarter. Bank of Montreal Can grew its stake in Silicon Motion Technology by 40.6% during the 1st quarter. Bank of Montreal Can now owns 1,429 shares of the semiconductor producer’s stock valued at $99,000 after purchasing an additional 413 shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in Silicon Motion Technology during the 1st quarter valued at approximately $175,000. Institutional investors and hedge funds own 72.42% of the company’s stock.
Silicon Motion Technology stock opened at $80.00 on Monday. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. Silicon Motion Technology has a fifty-two week low of $35.13 and a fifty-two week high of $81.87. The firm has a fifty day moving average price of $65.13.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 19th. Stockholders of record on Thursday, August 5th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, August 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.75%. Silicon Motion Technology’s dividend payout ratio (DPR) is 60.96%.
About Silicon Motion Technology
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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