Equities Analysts Issue Forecasts for Silicon Motion’s Q1 2018 Earnings (SIMO)

Silicon Motion (NASDAQ:SIMO) – Equities research analysts at B. Riley boosted their Q1 2018 earnings per share estimates for Silicon Motion in a research report issued on Wednesday, April 11th. B. Riley analyst M. Crawford now anticipates that the semiconductor producer will post earnings of $0.59 per share for the quarter, up from their prior forecast of $0.58. B. Riley currently has a “Buy” rating and a $68.75 price target on the stock.

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Silicon Motion (NASDAQ:SIMO) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.21). The business had revenue of $136.17 million during the quarter, compared to analyst estimates of $135.00 million. Silicon Motion had a return on equity of 15.33% and a net margin of 14.34%.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Silicon Motion from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Nomura lowered shares of Silicon Motion from a “neutral” rating to a “reduce” rating and set a $45.00 price target for the company. in a report on Wednesday, January 10th. BidaskClub raised shares of Silicon Motion from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 29th. KeyCorp reaffirmed a “buy” rating and set a $54.00 price target on shares of Silicon Motion in a report on Wednesday, February 7th. Finally, Susquehanna Bancshares reaffirmed a “neutral” rating and set a $48.00 price target (down from $60.00) on shares of Silicon Motion in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $56.98.

SIMO opened at $48.79 on Friday. The firm has a market cap of $1,745.91, a P/E ratio of 23.34 and a beta of 0.60. Silicon Motion has a twelve month low of $40.33 and a twelve month high of $56.51.

A number of hedge funds have recently made changes to their positions in SIMO. Driehaus Capital Management LLC acquired a new position in Silicon Motion during the 4th quarter worth $38,132,000. Park West Asset Management LLC grew its holdings in Silicon Motion by 68.4% during the 4th quarter. Park West Asset Management LLC now owns 1,145,338 shares of the semiconductor producer’s stock worth $60,657,000 after acquiring an additional 465,338 shares in the last quarter. Sylebra HK Co Ltd grew its holdings in Silicon Motion by 444.8% during the 4th quarter. Sylebra HK Co Ltd now owns 534,440 shares of the semiconductor producer’s stock worth $28,304,000 after acquiring an additional 436,339 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Silicon Motion by 64.7% during the 3rd quarter. Janus Henderson Group PLC now owns 700,076 shares of the semiconductor producer’s stock worth $33,639,000 after acquiring an additional 275,089 shares in the last quarter. Finally, ARGA Investment Management LP grew its holdings in Silicon Motion by 13.5% during the 4th quarter. ARGA Investment Management LP now owns 2,088,771 shares of the semiconductor producer’s stock worth $110,621,000 after acquiring an additional 248,992 shares in the last quarter. 85.81% of the stock is owned by institutional investors.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 22nd. Shareholders of record on Thursday, August 9th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, August 8th. Silicon Motion’s dividend payout ratio is currently 47.37%.

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Silicon Motion Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile storage and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded MultiMediaCard (eMMC), client solid-state drive (SSD), flash memory card, and Universal Serial Bus flash drive controllers.

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