Silicon Motion Technology (SIMO) Projected to Post Earnings on Wednesday

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) is projected to post its quarterly earnings results after the market closes on Wednesday, February 5th. Analysts expect Silicon Motion Technology to post earnings of $0.78 per share and revenue of $191.00 million for the quarter. Investors that wish to listen to the company's conference call can do so using this link.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.07. The business had revenue of $212.40 million for the quarter, compared to analysts' expectations of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The business's revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the firm earned $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 Stock Up 0.4 %

Shares of SIMO stock traded up $0.20 during trading hours on Wednesday, hitting $51.26. 322,711 shares of the company were exchanged, compared to its average volume of 305,973. The firm has a market cap of $1.73 billion, a PE ratio of 19.42, a PEG ratio of 1.29 and a beta of 0.80. The firm has a fifty day moving average of $54.60 and a 200 day moving average of $58.51. Silicon Motion Technology has a 1 year low of $48.81 and a 1 year high of $85.87.

Silicon Motion Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Thursday, February 13th. Silicon Motion Technology's dividend payout ratio (DPR) is currently 75.38%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SIMO. Susquehanna dropped their price target on Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating for the company in a research note on Friday, November 1st. StockNews.com lowered shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Tuesday. 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. Needham & Company LLC dropped their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, Craig Hallum reduced their target price on shares of Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Silicon Motion Technology has an average rating of "Moderate Buy" and a consensus target price 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.