Silicon Motion Technology (SIMO) Scheduled to Post Quarterly Earnings on Thursday

Silicon Motion Technology (NASDAQ:SIMO) is set to issue its quarterly earnings data 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.Individual interested in participating in the company’s earnings conference call can do so using this link.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. Silicon Motion Technology had a net margin of 8.27% and a return on equity of 7.01%. The business had revenue of $202.38 million during the quarter, compared to analysts’ expectations of $197.60 million. 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 Trading Down 1.7 %

Shares of SIMO stock opened at $73.81 on Wednesday. Silicon Motion Technology has a 12 month low of $49.50 and a 12 month high of $95.33. The stock has a market cap of $2.44 billion, a P/E ratio of 46.72, a P/E/G ratio of 3.95 and a beta of 0.85. The company has a 50 day simple moving average of $74.37 and a two-hundred day simple moving average of $65.41.

Silicon Motion Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.71%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 125.95%.

Analysts Set New Price Targets

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