Silicon Motion Technology Co. (NASDAQ:SIMO – Free Report) – B. Riley dropped their Q3 2024 earnings per share estimates for shares of Silicon Motion Technology in a research report issued to clients and investors on Monday, September 16th. B. Riley analyst C. Ellis now forecasts that the semiconductor producer will post earnings per share of $0.56 for the quarter, down from their previous estimate of $0.66. B. Riley currently has a “Buy” rating and a $95.00 target price on the stock. The consensus estimate for Silicon Motion Technology’s current full-year earnings is $2.86 per share. B. Riley also issued estimates for Silicon Motion Technology’s Q4 2024 earnings at $0.74 EPS, FY2024 earnings at $2.57 EPS, Q1 2025 earnings at $0.66 EPS, Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $1.10 EPS, Q4 2025 earnings at $1.13 EPS, FY2025 earnings at $3.72 EPS, Q1 2026 earnings at $1.00 EPS, Q2 2026 earnings at $1.17 EPS and FY2026 earnings at $5.10 EPS.
Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Silicon Motion Technology had a net margin of 10.14% and a return on equity of 10.31%. The firm had revenue of $210.67 million for the quarter, compared to analyst estimates of $206.75 million. During the same period last year, the business earned $0.33 EPS. Silicon Motion Technology’s revenue for the quarter was up 50.1% compared to the same quarter last year.
View Our Latest Stock Analysis on SIMO
Silicon Motion Technology Stock Performance
Shares of SIMO stock opened at $55.19 on Thursday. The stock’s 50-day moving average is $65.01 and its two-hundred day moving average is $73.21. Silicon Motion Technology has a 1 year low of $49.50 and a 1 year high of $85.87. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 0.92 and a beta of 0.84.
Hedge Funds Weigh In On Silicon Motion Technology
A number of large investors have recently bought and sold shares of SIMO. Inspire Advisors LLC increased its stake in shares of Silicon Motion Technology by 1.9% during the second quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer’s stock worth $1,059,000 after acquiring an additional 249 shares during the period. Sei Investments Co. lifted its holdings in shares of Silicon Motion Technology by 0.5% in the 2nd quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer’s stock valued at $4,559,000 after buying an additional 257 shares during the period. Parallel Advisors LLC boosted its stake in shares of Silicon Motion Technology by 154.9% in the fourth quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock valued at $34,000 after buying an additional 333 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Silicon Motion Technology by 0.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 73,150 shares of the semiconductor producer’s stock worth $4,482,000 after acquiring an additional 341 shares during the period. Finally, Assetmark Inc. raised its position in Silicon Motion Technology by 34.5% in the fourth quarter. Assetmark Inc. now owns 1,332 shares of the semiconductor producer’s stock worth $82,000 after acquiring an additional 342 shares in the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.
Silicon Motion Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.00 annualized dividend and a yield of 3.62%. Silicon Motion Technology’s dividend payout ratio is currently 113.07%.
About Silicon Motion Technology
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.
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