Silicon Motion Technology (SIMO) Expected to Announce Earnings on Wednesday

Silicon Motion Technology (NASDAQ:SIMO) is expected to issue its quarterly earnings data after the market closes on Wednesday, February 5th. Analysts expect the company to announce earnings of $0.78 per share and revenue of $191.00 million for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The company had revenue of $212.40 million during the quarter, compared to analysts’ expectations of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, analysts expect Silicon Motion Technology to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Silicon Motion Technology Price Performance

Shares of SIMO opened at $51.06 on Wednesday. Silicon Motion Technology has a 1-year low of $48.81 and a 1-year high of $85.87. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.80. The firm has a 50 day simple moving average of $54.60 and a 200-day simple moving average of $58.51.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, February 13th. Silicon Motion Technology’s payout ratio is 75.38%.

Wall Street Analyst Weigh In

A number of analysts recently commented on SIMO shares. Needham & Company LLC decreased their price objective on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Susquehanna lowered their price target on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a report on Friday, November 1st. Roth Mkm reduced their price objective on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Finally, Craig Hallum lowered their target price on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.