$0.51 EPS Expected for Silicon Motion Technology Corp. (NASDAQ:SIMO) This Quarter

Analysts expect Silicon Motion Technology Corp. (NASDAQ:SIMO) to post earnings of $0.51 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Silicon Motion Technology’s earnings, with estimates ranging from $0.50 to $0.52. Silicon Motion Technology posted earnings per share of $0.95 during the same quarter last year, which indicates a negative year over year growth rate of 46.3%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that Silicon Motion Technology will report full-year earnings of $2.07 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.12. For the next fiscal year, analysts forecast that the business will post earnings of $2.76 per share, with EPS estimates ranging from $2.55 to $2.98. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that cover Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor producer reported $0.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.52. The company had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $97.33 million. Silicon Motion Technology had a net margin of 17.84% and a return on equity of 17.76%. The firm’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share.



A number of research firms have weighed in on SIMO. KeyCorp set a $58.00 price objective on shares of Silicon Motion Technology and gave the stock a “hold” rating in a research report on Tuesday, September 10th. ValuEngine cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. cut shares of Silicon Motion Technology from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $50.00 to $40.00 in a research report on Thursday, August 1st. BidaskClub cut shares of Silicon Motion Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Finally, Roth Capital reduced their price objective on shares of Silicon Motion Technology from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $47.40.

Several institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its holdings in shares of Silicon Motion Technology by 0.5% during the first quarter. Lazard Asset Management LLC now owns 2,369,420 shares of the semiconductor producer’s stock worth $93,922,000 after buying an additional 11,353 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Silicon Motion Technology by 26.0% during the second quarter. JPMorgan Chase & Co. now owns 2,019,672 shares of the semiconductor producer’s stock worth $85,696,000 after buying an additional 416,234 shares in the last quarter. Investec Asset Management LTD grew its holdings in shares of Silicon Motion Technology by 0.7% during the second quarter. Investec Asset Management LTD now owns 1,674,941 shares of the semiconductor producer’s stock worth $74,334,000 after buying an additional 11,364 shares in the last quarter. ARGA Investment Management LP grew its holdings in shares of Silicon Motion Technology by 15.5% during the second quarter. ARGA Investment Management LP now owns 1,560,879 shares of the semiconductor producer’s stock worth $69,272,000 after buying an additional 209,089 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Silicon Motion Technology by 315.9% during the second quarter. Invesco Ltd. now owns 1,466,583 shares of the semiconductor producer’s stock worth $65,086,000 after buying an additional 1,113,983 shares in the last quarter. 71.10% of the stock is owned by institutional investors and hedge funds.

NASDAQ:SIMO traded down $0.43 during trading hours on Thursday, reaching $32.76. 121,254 shares of the company were exchanged, compared to its average volume of 158,797. The stock’s 50-day moving average is $32.90 and its 200-day moving average is $38.62. The firm has a market cap of $1.19 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 3.64 and a beta of 1.01. Silicon Motion Technology has a twelve month low of $30.86 and a twelve month high of $55.50.

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.

Further Reading: Benefits of owning preferred stock

Get a free copy of the Zacks research report on Silicon Motion Technology (SIMO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Silicon Motion Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter.