FY2024 EPS Estimates for SIMO Decreased by B. Riley

Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) - B. Riley dropped their FY2024 earnings estimates for Silicon Motion Technology in a research note issued to investors on Tuesday, January 7th. B. Riley analyst C. Ellis now anticipates that the semiconductor producer will post earnings of $2.49 per share for the year, down from their prior estimate of $2.53. The consensus estimate for Silicon Motion Technology's current full-year earnings is $2.59 per share. B. Riley also issued estimates for Silicon Motion Technology's Q1 2025 earnings at $0.30 EPS, Q2 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.74 EPS, Q2 2026 earnings at $0.80 EPS and FY2026 earnings at $3.58 EPS.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.07. The company had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The company's quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS.

Other analysts have also issued research reports about the stock. Roth Mkm dropped their price target on shares of Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, October 8th. StockNews.com upgraded Silicon Motion Technology from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Craig Hallum decreased 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 report on Thursday, October 31st. Wedbush reissued an "outperform" rating and set a $90.00 price target on shares of Silicon Motion Technology in a report on Monday, December 23rd. Finally, Morgan Stanley lowered their price objective on shares of Silicon Motion Technology from $78.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Silicon Motion Technology currently has an average rating of "Moderate Buy" and a consensus target price of $81.67.

Silicon Motion Technology Price Performance

NASDAQ SIMO traded down $0.94 during mid-day trading on Thursday, hitting $55.17. The company's stock had a trading volume of 210,601 shares, compared to its average volume of 194,700. The stock's fifty day simple moving average is $54.88 and its two-hundred day simple moving average is $61.46. Silicon Motion Technology has a 52-week low of $50.50 and a 52-week high of $85.87. The firm has a market capitalization of $1.86 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its stake in Silicon Motion Technology by 129.4% during the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock worth $27,000 after purchasing an additional 251 shares during the period. GAMMA Investing LLC grew its holdings in Silicon Motion Technology by 123.2% during the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock worth $47,000 after acquiring an additional 484 shares during the period. Blue Trust Inc. grew its stake in shares of Silicon Motion Technology by 139.5% during the third quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer's stock worth $83,000 after purchasing an additional 795 shares during the period. Headlands Technologies LLC acquired a new position in shares of Silicon Motion Technology during the 2nd quarter worth about $139,000. Finally, XTX Topco Ltd bought a new stake in Silicon Motion Technology in the second quarter valued at approximately $220,000. Institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology's dividend payout ratio (DPR) is currently 75.76%.

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.