Silicon Motion Technology (NASDAQ:SIMO) Issues Earnings Results

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) released its earnings results on Wednesday. The semiconductor producer reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10), Zacks reports. Silicon Motion Technology had a return on equity of 11.59% and a net margin of 11.29%. Silicon Motion Technology updated its Q1 2025 guidance to EPS.

Silicon Motion Technology Stock Performance

Shares of NASDAQ:SIMO traded down $2.77 during mid-day trading on Friday, reaching $52.80. 579,458 shares of the company's stock were exchanged, compared to its average volume of 408,092. Silicon Motion Technology has a twelve month low of $48.81 and a twelve month high of $85.87. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.34 and a beta of 0.79. The business's fifty day moving average price is $54.62 and its 200-day moving average price is $57.47.

Silicon Motion Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Thursday, February 13th. Silicon Motion Technology's payout ratio is 73.98%.

Silicon Motion Technology declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 5th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the semiconductor producer to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Susquehanna dropped their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating on the stock in a report on Friday, November 1st. StockNews.com upgraded Silicon Motion Technology from a "hold" rating to a "buy" rating in a report on Wednesday. Craig Hallum reduced their price objective on Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Needham & Company LLC reissued a "buy" rating and issued a $70.00 target price on shares of Silicon Motion Technology in a research note on Friday. Finally, Wedbush reiterated an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.63.

About Silicon Motion Technology

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.