Analysts Anticipate Silicon Motion Technology Corp. (SIMO) Will Post Earnings of $0.81 Per Share

Wall Street analysts expect that Silicon Motion Technology Corp. (NASDAQ:SIMO) will report earnings of $0.81 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Silicon Motion Technology’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.75. Silicon Motion Technology reported earnings per share of $0.79 in the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The company is expected to report its next earnings report after the market closes on Tuesday, January 29th.

According to Zacks, analysts expect that Silicon Motion Technology will report full-year earnings of $3.39 per share for the current year, with EPS estimates ranging from $3.33 to $3.41. For the next financial year, analysts expect that the company will post earnings of $3.43 per share, with EPS estimates ranging from $3.10 to $3.65. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Tuesday, October 30th. The semiconductor producer reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.07. The business had revenue of $138.60 million for the quarter, compared to analyst estimates of $137.36 million. Silicon Motion Technology had a net margin of 17.10% and a return on equity of 17.92%. Silicon Motion Technology’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share.



Several research analysts have weighed in on SIMO shares. JPMorgan Chase & Co. set a $63.00 price objective on shares of Silicon Motion Technology and gave the stock a “buy” rating in a report on Wednesday, October 10th. Roth Capital lowered their price objective on shares of Silicon Motion Technology from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, January 9th. BidaskClub upgraded shares of Silicon Motion Technology from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 25th. Craig Hallum lowered their price objective on shares of Silicon Motion Technology from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Finally, ValuEngine downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $53.37.

Shares of NASDAQ SIMO opened at $35.20 on Friday. Silicon Motion Technology has a 12-month low of $31.73 and a 12-month high of $61.85. The firm has a market cap of $1.27 billion, a P/E ratio of 16.84 and a beta of 0.85.

The business also recently disclosed a special dividend, which will be paid on Wednesday, February 27th. Investors of record on Friday, February 15th will be issued a dividend of $0.30 per share. This represents a yield of 3.41%. The ex-dividend date of this dividend is Thursday, February 14th. This is an increase from Silicon Motion Technology’s previous special dividend of $0.15. Silicon Motion Technology’s dividend payout ratio (DPR) is 56.94%.

Silicon Motion Technology declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 21st that allows the company to buyback $200.00 million in shares. This buyback authorization allows the semiconductor producer to buy up to 15.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

A number of large investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its position in Silicon Motion Technology by 4.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,530,366 shares of the semiconductor producer’s stock valued at $135,881,000 after purchasing an additional 105,161 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Silicon Motion Technology by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 1,206,624 shares of the semiconductor producer’s stock worth $64,796,000 after buying an additional 247,658 shares during the period. Peregrine Capital Management LLC increased its stake in shares of Silicon Motion Technology by 1.7% in the third quarter. Peregrine Capital Management LLC now owns 374,848 shares of the semiconductor producer’s stock worth $20,129,000 after buying an additional 6,170 shares during the period. Prospect Capital Advisors LLC increased its stake in shares of Silicon Motion Technology by 7.1% in the third quarter. Prospect Capital Advisors LLC now owns 340,150 shares of the semiconductor producer’s stock worth $18,266,000 after buying an additional 22,500 shares during the period. Finally, Northern Trust Corp boosted its holdings in Silicon Motion Technology by 3.3% in the second quarter. Northern Trust Corp now owns 278,147 shares of the semiconductor producer’s stock valued at $14,711,000 after acquiring an additional 8,948 shares in the last quarter. Hedge funds and other institutional investors own 73.35% of the company’s stock.

About Silicon Motion Technology

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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