Wall Street analysts expect that Silicon Motion Technology Co. (NASDAQ:SIMO) will announce sales of $243.56 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Silicon Motion Technology’s earnings, with the lowest sales estimate coming in at $243.50 million and the highest estimate coming in at $243.68 million. Silicon Motion Technology reported sales of $126.04 million in the same quarter last year, which would suggest a positive year over year growth rate of 93.2%. The company is expected to announce its next quarterly earnings results on Monday, November 1st.
According to Zacks, analysts expect that Silicon Motion Technology will report full-year sales of $903.54 million for the current financial year, with estimates ranging from $899.98 million to $907.07 million. For the next year, analysts anticipate that the business will report sales of $1.01 billion, with estimates ranging from $869.62 million to $1.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Silicon Motion Technology.
A number of analysts have recently commented on SIMO shares. B. Riley boosted their price objective on shares of Silicon Motion Technology from $94.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. Morgan Stanley reissued an “underweight” rating on shares of Silicon Motion Technology in a research report on Tuesday, May 25th. Needham & Company LLC boosted their price objective on shares of Silicon Motion Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. Craig Hallum boosted their price objective 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. Finally, Cowen boosted their price objective on shares of Silicon Motion Technology from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $86.38.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Silicon Motion Technology during the first quarter worth $27,000. Employees Retirement System of Texas acquired a new position in shares of Silicon Motion Technology in the second quarter valued at $67,000. Cullen Frost Bankers Inc. acquired a new position in shares of Silicon Motion Technology in the second quarter valued at $71,000. International Assets Investment Management LLC increased its holdings 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 purchasing an additional 700 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of 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 valued at $99,000 after purchasing an additional 413 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.
Shares of SIMO opened at $75.36 on Wednesday. The firm has a 50 day moving average of $65.60. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 2.04 and a beta of 1.12. Silicon Motion Technology has a twelve month low of $35.13 and a twelve month high of $81.87.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 19th. Investors of record on Thursday, August 5th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.86%. Silicon Motion Technology’s payout ratio 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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