Silicon Motion Technology Corp. (NASDAQ:SIMO) – Investment analysts at B. Riley issued their Q2 2019 earnings per share (EPS) estimates for shares of Silicon Motion Technology in a research note issued on Wednesday, October 31st. B. Riley analyst M. Crawford forecasts that the semiconductor producer will earn $0.77 per share for the quarter. B. Riley has a “Buy” rating and a $57.00 price objective on the stock. B. Riley also issued estimates for Silicon Motion Technology’s Q3 2019 earnings at $0.85 EPS and Q4 2019 earnings at $0.72 EPS.
Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Tuesday, October 30th. The semiconductor producer reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.07. The firm had revenue of $138.60 million for the quarter, compared to analysts’ expectations of $137.36 million. Silicon Motion Technology had a return on equity of 17.92% and a net margin of 17.10%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share.
A number of other research firms have also recently commented on SIMO. JPMorgan Chase & Co. set a $63.00 target price on Silicon Motion Technology and gave the company a “buy” rating in a research note on Wednesday, October 10th. Morgan Stanley cut Silicon Motion Technology from an “overweight” rating to an “equal” rating and set a $54.00 target price on the stock. in a research note on Wednesday, August 1st. Zacks Investment Research cut Silicon Motion Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Craig Hallum cut their target price on Silicon Motion Technology from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Finally, ValuEngine cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. Silicon Motion Technology currently has an average rating of “Buy” and a consensus target price of $56.31.
SIMO opened at $39.55 on Monday. The company has a market cap of $1.47 billion, a PE ratio of 18.92 and a beta of 0.95. Silicon Motion Technology has a one year low of $35.25 and a one year high of $61.85.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be paid a $0.30 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.20 annualized dividend and a yield of 3.03%. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 56.94%.
Large investors have recently made changes to their positions in the stock. Pitcairn Co. bought a new position in Silicon Motion Technology in the second quarter worth approximately $201,000. A.R.T. Advisors LLC purchased a new stake in Silicon Motion Technology during the first quarter worth $213,000. FNY Investment Advisers LLC purchased a new stake in Silicon Motion Technology during the second quarter worth $285,000. Weil Company Inc. purchased a new stake in Silicon Motion Technology during the second quarter worth $311,000. Finally, OppenheimerFunds Inc. purchased a new stake in Silicon Motion Technology during the second quarter worth $396,000. 75.25% of the stock is currently owned by institutional investors.
Silicon Motion Technology Company Profile
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.
Recommended Story: Initial Public Offering (IPO)
Receive News & Ratings for Silicon Motion Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter.