Silicon Motion Technology Corp. (SIMO) Expected to Post Earnings of $0.36 Per Share

Analysts expect Silicon Motion Technology Corp. (NASDAQ:SIMO) to report $0.36 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Silicon Motion Technology’s earnings. The highest EPS estimate is $0.37 and the lowest is $0.35. Silicon Motion Technology reported earnings per share of $0.71 in the same quarter last year, which would suggest a negative year-over-year growth rate of 49.3%. The business is scheduled to report its next earnings report on Thursday, April 25th.

On average, analysts expect that Silicon Motion Technology will report full year earnings of $3.04 per share for the current fiscal year, with EPS estimates ranging from $2.74 to $3.34. For the next fiscal year, analysts expect that the company will report earnings of $3.66 per share, with EPS estimates ranging from $3.15 to $4.04. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, January 29th. The semiconductor producer reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.30. The firm had revenue of $123.39 million during the quarter, compared to analysts’ expectations of $123.21 million. Silicon Motion Technology had a net margin of 18.91% and a return on equity of 21.30%. During the same period in the prior year, the company posted $0.79 earnings per share.

A number of brokerages have recently issued reports on SIMO. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective (down from $58.00) on shares of Silicon Motion Technology in a research note on Thursday, January 17th. TheStreet cut shares of Silicon Motion Technology from a “b-” rating to a “c+” rating in a research note on Friday, January 11th. ValuEngine cut shares of Silicon Motion Technology from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Zacks Investment Research raised shares of Silicon Motion Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, BidaskClub raised shares of Silicon Motion Technology from a “strong sell” rating to a “sell” rating in a research note on Friday, January 25th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $51.95.

Shares of NASDAQ SIMO opened at $40.07 on Thursday. The firm has a market capitalization of $1.49 billion, a PE ratio of 11.75 and a beta of 1.08. Silicon Motion Technology has a 1 year low of $31.73 and a 1 year high of $61.85.

Silicon Motion Technology declared that its board has authorized a stock buyback plan on Wednesday, November 21st that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the semiconductor producer to purchase up to 15.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently announced a special dividend, which was paid on Wednesday, February 27th. Investors of record on Friday, February 15th were paid a dividend of $0.30 per share. This represents a yield of 3.41%. This is a boost from Silicon Motion Technology’s previous special dividend of $0.15. The ex-dividend date was Thursday, February 14th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 34.90%.

Large investors have recently modified their holdings of the business. ARGA Investment Management LP grew its stake in shares of Silicon Motion Technology by 10.0% in the 4th quarter. ARGA Investment Management LP now owns 1,922,113 shares of the semiconductor producer’s stock worth $66,313,000 after buying an additional 175,382 shares in the last quarter. Westpac Banking Corp purchased a new position in shares of Silicon Motion Technology in the 4th quarter worth $1,643,000. JPMorgan Chase & Co. grew its stake in shares of Silicon Motion Technology by 25.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,206,624 shares of the semiconductor producer’s stock worth $64,796,000 after buying an additional 247,658 shares in the last quarter. Morgan Stanley grew its stake in shares of Silicon Motion Technology by 2.4% in the 3rd quarter. Morgan Stanley now owns 113,932 shares of the semiconductor producer’s stock worth $6,119,000 after buying an additional 2,683 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of Silicon Motion Technology by 15.8% in the 3rd quarter. Brown Advisory Inc. now owns 32,359 shares of the semiconductor producer’s stock worth $1,737,000 after buying an additional 4,408 shares in the last quarter. 70.43% of the stock is owned by institutional investors and hedge funds.

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.

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