Silicon Motion Technology (NASDAQ: SIMO – Get Rating ) will release its quarterly earnings data after the market close on Tuesday, February 7. Analysts expect the company to report earnings of $1.38 per share for the quarter.
Silicon Motion Technology (NASDAQ: SIMO – Get Rating ) released its latest quarterly earnings results on Tuesday, November 1st. The semiconductor maker reported earnings of $1.29 per share for the quarter, missing consensus estimates of $1.80 ($0.51). The company’s revenue for the quarter came in at $250.81 million, compared with analyst estimates of $279.33 million. Huirong Technology’s net profit margin is 20.76%, and its return on equity is 32.05%. On average, analysts expect Silicon Motion to post EPS of $6 in the current fiscal year and $6 in the next fiscal year.
Silicon Motion Technology stock performance
SIMO stock opened Tuesday at $64.48. The company has a market capitalization of $2.13 billion, a P/E ratio of 10.45, a P/E ratio of 2.41, and a beta of 0.92. The company’s 50-day moving average is $64.29 and its 200-day moving average is $68.32. Silicon Motion Technology had a one-year low of $51.82 and a one-year high of $98.65.
Hedge fund takes stake in Silicon Motion Technology
Several hedge funds and other institutional investors recently adjusted their stakes in the company. State Street Corp increased its stake in Silicon Motion Technology by 3.7 percent in the third quarter. After purchasing an additional 23,022 shares last quarter, State Street Corp now owns 640,513 shares of the semiconductor producer, worth $43,220,000. BlackRock Inc. increased its stake in Silicon Motion Technology by 25.5% in the third quarter. BlackRock now owns 19,227 shares of the semiconductor producer, worth $1,254,000, after purchasing an additional 3,902 shares during the period. RBC increased its stake in Silicon Motion Technology by 2.4% in the third quarter. RBC now owns 51,136 shares of the semiconductor producer, worth $3,333,000, after buying an additional 1,189 shares during that period. Legal & General Group Plc increased its stake in Silicon Motion Technology by 4.3% in the second quarter. Legal & General Group Plc now owns 32,263 shares of the semiconductor producer, worth $2,700,000, after buying an additional 1,330 shares during that period. Finally, Goldman Sachs Group Inc. raised its stake in Silicon Motion Technology by 64.5% during the second quarter. Goldman Sachs Group Inc. now owns 276,422 shares of the semiconductor maker, worth $23,137,000, after buying an additional 108,350 shares during that period. 66.67% of the shares are held by hedge funds and other institutional investors.
Wall Street analysts weigh in
SIMO has been the subject of several analyst reports. StockNews.com began coverage on shares of Silicon Motion Technology in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Susquehanna upgraded shares of Silicon Motion Technology from a “neutral” rating to a “positive” rating and set a $108.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, October 5th. Susquehanna Bancshares upgraded shares of Silicon Motion Technology to a “positive” rating and set a $108.00 price target for the stock in a research note on Wednesday, October 5th. Finally, Needham & Company LLC upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, November 2nd. Three equity research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.60.
About Huirong Technology
(get rating)
Silicon Motion Technology Corp. is engaged in the development, manufacture, and supply of semiconductor products for the electronics market. The company’s products include flash memory controllers, storage solutions, and more. It offers embedded and expandable storage, radio frequency integrated circuits and embedded graphics.
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