B. Riley Equities Analysts Cut Earnings Estimates for SIMO

Silicon Motion Technology Co. (NASDAQ:SIMO) – Equities researchers at B. Riley decreased their FY2024 earnings estimates for Silicon Motion Technology in a report released on Tuesday, January 7th. B. Riley analyst C. Ellis now expects that the semiconductor producer will earn $2.49 per share for the year, down from their prior forecast of $2.53. The consensus estimate for Silicon Motion Technology’s current full-year earnings is $2.59 per share. B. Riley also issued estimates for Silicon Motion Technology’s Q1 2025 earnings at $0.30 EPS, Q2 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.74 EPS, Q2 2026 earnings at $0.80 EPS and FY2026 earnings at $3.58 EPS.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share.

A number of other analysts also recently issued reports on SIMO. Wedbush reissued an “outperform” rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Craig Hallum dropped their price target on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Susquehanna reduced their price target on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Friday, November 1st. Morgan Stanley dropped their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology Price Performance

NASDAQ:SIMO opened at $52.96 on Thursday. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.61 and a beta of 0.80. The company’s 50-day moving average is $54.91 and its two-hundred day moving average is $61.24. Silicon Motion Technology has a 1-year low of $50.50 and a 1-year high of $85.87.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, August 7th. Silicon Motion Technology’s dividend payout ratio is currently 75.76%.

Institutional Investors Weigh In On Silicon Motion Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its position in shares of Silicon Motion Technology by 27.7% during the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock worth $136,032,000 after acquiring an additional 485,862 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in Silicon Motion Technology by 21.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock valued at $67,051,000 after purchasing an additional 196,609 shares in the last quarter. Reinhart Partners LLC. grew its holdings in Silicon Motion Technology by 43.3% during the third quarter. Reinhart Partners LLC. now owns 1,080,375 shares of the semiconductor producer’s stock worth $65,622,000 after acquiring an additional 326,358 shares during the period. Millennium Management LLC grew its position in Silicon Motion Technology by 15.3% during the second quarter. Millennium Management LLC now owns 791,823 shares of the semiconductor producer’s stock worth $64,130,000 after buying an additional 105,084 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in shares of Silicon Motion Technology in the 3rd quarter worth approximately $40,331,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.

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.