Silicon Motion Technology (SIMO) Set to Announce Quarterly Earnings on Wednesday

Silicon Motion Technology (NASDAQ:SIMO) is scheduled to be releasing its earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.85 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Silicon Motion Technology (NASDAQ:SIMO) last announced its 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 the consensus estimate of $206.75 million. During the same quarter last year, the firm posted $0.33 EPS. The business’s quarterly revenue was up 50.1% on a year-over-year basis. 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

SIMO stock opened at $56.06 on Monday. Silicon Motion Technology has a 52-week low of $51.85 and a 52-week high of $85.87. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 0.90 and a beta of 0.83. The company has a 50-day moving average of $59.31 and a two-hundred day moving average of $69.89.

Analyst Ratings Changes

SIMO has been the topic of several recent analyst reports. B. Riley dropped their price target on Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Silicon Motion Technology in a research note on Wednesday, October 2nd. Roth Mkm decreased their price target on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Morgan Stanley reduced 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 research note on Monday, September 16th. Finally, Needham & Company LLC boosted their price target on Silicon Motion Technology from $85.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.11.

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.