Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) will be posting 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.Persons that are interested in participating in the company’s earnings conference call can do so using this link.
Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) last issued its quarterly 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 for 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 Up 2.4 %
Shares of Silicon Motion Technology stock opened at $75.11 on Tuesday. The company has a market cap of $2.48 billion, a P/E ratio of 47.54, a PEG ratio of 3.95 and a beta of 0.85. The business has a 50-day moving average price of $74.24 and a two-hundred day moving average price of $65.29. Silicon Motion Technology has a 1-year low of $49.50 and a 1-year high of $95.33.
Silicon Motion Technology Dividend Announcement
Wall Street Analyst Weigh In
A number of research firms have issued reports on SIMO. JPMorgan Chase & Co. increased their price target on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Needham & Company LLC increased 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 note on Wednesday, April 10th. B. Riley lifted their price target on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Wedbush reissued an “outperform” rating and set a $85.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 10th. Finally, Craig Hallum raised their target price on Silicon Motion Technology from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.57.
View Our Latest Research Report on SIMO
About Silicon Motion Technology
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.
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