Silicon Motion Technology (SIMO) to Release Quarterly Earnings on Thursday

Silicon Motion Technology (NASDAQ:SIMO) will announce its quarterly earnings results 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.Parties interested in listening to the company’s conference call can do so using this link.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 EPS for the quarter, topping the consensus estimate 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 company 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 Stock Up 1.6 %

Shares of Silicon Motion Technology stock opened at $73.73 on Thursday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 46.66, a price-to-earnings-growth ratio of 3.90 and a beta of 0.85. Silicon Motion Technology has a 52-week low of $49.50 and a 52-week high of $95.33. The company’s 50-day simple moving average is $73.93 and its 200-day simple moving average is $64.87.

Silicon Motion Technology Announces Dividend

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

Analyst Ratings Changes

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