B. Riley Has Bearish Forecast for SIMO FY2024 Earnings

Silicon Motion Technology Co. (NASDAQ:SIMO) – Investment analysts at B. Riley cut their FY2024 EPS estimates for Silicon Motion Technology in a report issued on Tuesday, January 7th. B. Riley analyst C. Ellis now forecasts that the semiconductor producer will post earnings per share of $2.49 for the year, down from their prior estimate 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.

Several other brokerages have also recently issued reports on SIMO. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Susquehanna dropped their price objective 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. Roth Mkm reduced their price objective on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. Morgan Stanley dropped their target price on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Craig Hallum cut their price target on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Silicon Motion Technology Trading Down 1.7 %

Shares of Silicon Motion Technology stock opened at $55.17 on Thursday. The stock’s fifty day moving average price is $54.91 and its 200-day moving average price is $61.41. The firm has a market cap of $1.86 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.61 and a beta of 0.80. Silicon Motion Technology has a 12 month low of $50.50 and a 12 month high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.85 by $0.07. The company 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%. Silicon Motion Technology’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS.

Institutional Investors Weigh In On Silicon Motion Technology

Institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its position in shares of Silicon Motion Technology by 129.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock valued at $27,000 after purchasing an additional 251 shares during the last quarter. GAMMA Investing LLC increased its stake in Silicon Motion Technology by 123.2% during the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock valued at $47,000 after purchasing an additional 484 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Silicon Motion Technology by 139.5% in the third quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock worth $83,000 after buying an additional 795 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Silicon Motion Technology during the second quarter worth $139,000. Finally, Van ECK Associates Corp purchased a new stake in shares of Silicon Motion Technology during the third quarter valued at $151,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.63%. Silicon Motion Technology’s dividend payout ratio is presently 75.76%.

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.