Silicon Motion Technology (SIMO) to Release Earnings on Thursday

Silicon Motion Technology (NASDAQ:SIMO) is set to announce its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Silicon Motion Technology has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. The business had revenue of $202.38 million for the quarter, compared to the consensus estimate of $197.60 million. Silicon Motion Technology had a net margin of 8.27% and a return on equity of 7.01%. On average, analysts expect Silicon Motion Technology to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Silicon Motion Technology Price Performance

NASDAQ:SIMO opened at $75.11 on Tuesday. The stock has a market cap of $2.48 billion, a P/E ratio of 47.54, a PEG ratio of 3.95 and a beta of 0.85. The company has a fifty day moving average price of $74.24 and a 200 day moving average price of $65.29. Silicon Motion Technology has a one year low of $49.50 and a one year high of $95.33.

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio is currently 125.95%.

Analyst Ratings Changes

Several brokerages recently commented on SIMO. B. Riley raised their target price on Silicon Motion Technology from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their target price on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Needham & Company LLC increased their price objective on Silicon Motion Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Wedbush restated an “outperform” rating and issued a $85.00 target price on shares of Silicon Motion Technology in a research note on Wednesday, April 10th. Finally, Craig Hallum increased their target price on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.57.

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.