Wall Street brokerages expect Silicon Motion Technology Corp. (NASDAQ:SIMO) to report earnings of $0.53 per share for the current quarter, according to Zacks. Three analysts have made estimates for Silicon Motion Technology’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.57. Silicon Motion Technology reported earnings per share of $0.92 in the same quarter last year, which would suggest a negative year over year growth rate of 42.4%. The firm is expected to issue its next quarterly earnings results after the market closes on Tuesday, July 30th.
On average, analysts expect that Silicon Motion Technology will report full year earnings of $2.99 per share for the current fiscal year, with EPS estimates ranging from $2.82 to $3.34. For the next financial year, analysts expect that the company will post earnings of $3.59 per share, with EPS estimates ranging from $3.00 to $3.99. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Silicon Motion Technology.
Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Thursday, May 2nd. The semiconductor producer reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.07. Silicon Motion Technology had a net margin of 17.28% and a return on equity of 19.04%. The firm had revenue of $94.69 million during the quarter, compared to analyst estimates of $93.23 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. Silicon Motion Technology’s revenue for the quarter was down 27.4% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the business. Skyline Asset Management LP raised its stake in shares of Silicon Motion Technology by 5.7% in the second quarter. Skyline Asset Management LP now owns 168,800 shares of the semiconductor producer’s stock valued at $7,491,000 after acquiring an additional 9,100 shares during the period. Glaxis Capital Management LLC purchased a new stake in shares of Silicon Motion Technology in the second quarter valued at $444,000. Marshall Wace North America L.P. purchased a new stake in shares of Silicon Motion Technology in the first quarter valued at $516,000. Northcape Capital Pty Ltd raised its stake in shares of Silicon Motion Technology by 0.4% in the first quarter. Northcape Capital Pty Ltd now owns 595,151 shares of the semiconductor producer’s stock valued at $23,592,000 after acquiring an additional 2,575 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Silicon Motion Technology by 0.5% in the first quarter. Lazard Asset Management LLC now owns 2,369,420 shares of the semiconductor producer’s stock valued at $93,922,000 after acquiring an additional 11,353 shares during the period. Institutional investors and hedge funds own 69.90% of the company’s stock.
Shares of NASDAQ:SIMO traded down $0.08 during midday trading on Friday, reaching $41.75. 3,910 shares of the company were exchanged, compared to its average volume of 284,778. The company’s fifty day moving average is $41.38. Silicon Motion Technology has a one year low of $31.73 and a one year high of $61.85. The firm has a market capitalization of $1.51 billion, a PE ratio of 12.26, a PEG ratio of 4.18 and a beta of 1.01.
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.
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