B. Riley Has Bearish Outlook for SIMO FY2024 Earnings

Silicon Motion Technology Co. (NASDAQ:SIMO) – Equities researchers at B. Riley reduced their FY2024 EPS estimates for Silicon Motion Technology in a research note issued on Tuesday, January 7th. B. Riley analyst C. Ellis now anticipates that the semiconductor producer will earn $2.49 per share for the year, down from their previous forecast 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.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.07. The company had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS.

A number of other equities research analysts also recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Morgan Stanley lowered their price target on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Susquehanna cut their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a report on Friday, November 1st. Needham & Company LLC lowered their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Roth Mkm dropped their price target on 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. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology Price Performance

Shares of SIMO stock opened at $55.17 on Thursday. Silicon Motion Technology has a 1 year low of $50.50 and a 1 year high of $85.87. The company’s fifty day simple moving average is $54.91 and its two-hundred day simple moving average is $61.41. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.61 and a beta of 0.80.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its stake in shares of Silicon Motion Technology by 129.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after purchasing an additional 251 shares during the period. GAMMA Investing LLC boosted its position in shares of Silicon Motion Technology by 123.2% during the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock valued at $47,000 after buying an additional 484 shares during the period. Blue Trust Inc. grew its stake in shares of Silicon Motion Technology by 139.5% during the third quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock valued at $83,000 after buying an additional 795 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Silicon Motion Technology during the second quarter valued at approximately $139,000. Finally, Van ECK Associates Corp purchased a new stake in shares of Silicon Motion Technology in the third quarter worth approximately $151,000. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Announces Dividend

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

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.