Zacks: Brokerages Expect Silicon Motion Technology Corp. (NASDAQ:SIMO) Will Post Quarterly Sales of $136.69 Million

Wall Street brokerages forecast that Silicon Motion Technology Corp. (NASDAQ:SIMO) will post sales of $136.69 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Silicon Motion Technology’s earnings. The lowest sales estimate is $135.28 million and the highest is $139.95 million. Silicon Motion Technology reported sales of $123.39 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.8%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 4th.

On average, analysts expect that Silicon Motion Technology will report full year sales of $433.29 million for the current financial year, with estimates ranging from $421.00 million to $442.10 million. For the next financial year, analysts expect that the company will post sales of $517.49 million, with estimates ranging from $498.00 million to $539.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor producer reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.31. Silicon Motion Technology had a net margin of 13.16% and a return on equity of 13.22%. The business had revenue of $110.50 million during the quarter, compared to analyst estimates of $112.08 million. During the same period in the previous year, the business posted $0.95 EPS. The company’s quarterly revenue was down 20.3% on a year-over-year basis.

Several analysts recently weighed in on the stock. Wedbush assumed coverage on shares of Silicon Motion Technology in a research report on Tuesday, October 22nd. They issued a “neutral” rating and a $39.00 price objective on the stock. BidaskClub downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. ValuEngine downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Needham & Company LLC lifted their price objective on shares of Silicon Motion Technology from $44.00 to $55.00 in a research report on Wednesday, October 30th. Finally, Zacks Investment Research upgraded shares of Silicon Motion Technology from a “sell” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.49.

Shares of NASDAQ SIMO traded up $1.09 during midday trading on Friday, hitting $44.12. The company’s stock had a trading volume of 138,100 shares, compared to its average volume of 320,067. Silicon Motion Technology has a 1-year low of $30.86 and a 1-year high of $47.23. The firm’s fifty day moving average price is $41.96 and its 200-day moving average price is $38.53. The firm has a market cap of $1.60 billion, a P/E ratio of 12.94, a P/E/G ratio of 3.80 and a beta of 1.11.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.17%. This is an increase from Silicon Motion Technology’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, November 6th. Silicon Motion Technology’s payout ratio is 40.76%.

Several hedge funds have recently added to or reduced their stakes in SIMO. Camelot Portfolios LLC bought a new stake in shares of Silicon Motion Technology during the 2nd quarter worth about $222,000. Schafer Cullen Capital Management Inc grew its stake in shares of Silicon Motion Technology by 8.2% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 71,763 shares of the semiconductor producer’s stock worth $3,069,000 after purchasing an additional 5,432 shares during the last quarter. Investec Asset Management LTD grew its stake in shares of Silicon Motion Technology by 0.7% in the 2nd quarter. Investec Asset Management LTD now owns 1,674,941 shares of the semiconductor producer’s stock worth $74,334,000 after purchasing an additional 11,364 shares during the last quarter. BancorpSouth Bank grew its stake in shares of Silicon Motion Technology by 2.6% in the 2nd quarter. BancorpSouth Bank now owns 15,059 shares of the semiconductor producer’s stock worth $668,000 after purchasing an additional 376 shares during the last quarter. Finally, Aperio Group LLC grew its stake in shares of Silicon Motion Technology by 5.5% in the 2nd quarter. Aperio Group LLC now owns 15,095 shares of the semiconductor producer’s stock worth $670,000 after purchasing an additional 782 shares during the last quarter. Institutional investors own 69.89% of the company’s stock.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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

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