Equities analysts expect Silicon Motion Technology Corp. (NASDAQ:SIMO) to post $97.80 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Silicon Motion Technology’s earnings, with the lowest sales estimate coming in at $94.50 million and the highest estimate coming in at $102.90 million. Silicon Motion Technology posted sales of $138.06 million during the same quarter last year, which would indicate a negative year over year growth rate of 29.2%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, July 30th.

According to Zacks, analysts expect that Silicon Motion Technology will report full-year sales of $477.88 million for the current year, with estimates ranging from $450.00 million to $513.08 million. For the next fiscal year, analysts anticipate that the firm will post sales of $553.78 million, with estimates ranging from $507.00 million to $599.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Thursday, May 2nd. The semiconductor producer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. Silicon Motion Technology had a return on equity of 19.04% and a net margin of 17.28%. The firm had revenue of $94.69 million for the quarter, compared to the consensus estimate of $93.23 million. During the same quarter in the prior year, the business earned $0.71 EPS. The business’s revenue for the quarter was down 27.4% on a year-over-year basis.

A number of brokerages have recently commented on SIMO. B. Riley boosted their price target on Airgain from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Morgan Stanley cut Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 22nd. BidaskClub cut Ames National from a “hold” rating to a “sell” rating in a research report on Wednesday. Cowen reaffirmed a “buy” rating and issued a $6.50 price objective on shares of Daseke in a research report on Monday, May 6th. Finally, Zacks Investment Research cut GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.95.

Shares of SIMO traded down $0.13 during mid-day trading on Monday, reaching $41.15. The company had a trading volume of 203,352 shares, compared to its average volume of 270,464. The stock’s 50-day moving average is $41.53. Silicon Motion Technology has a 52 week low of $31.73 and a 52 week high of $61.85. The stock has a market capitalization of $1.49 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 4.14 and a beta of 1.01.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BancorpSouth Bank lifted its holdings in shares of Silicon Motion Technology by 2.3% during the 1st quarter. BancorpSouth Bank now owns 14,683 shares of the semiconductor producer’s stock valued at $582,000 after buying an additional 326 shares during the period. Penserra Capital Management LLC lifted its holdings in shares of Silicon Motion Technology by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,320 shares of the semiconductor producer’s stock valued at $52,000 after buying an additional 440 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Silicon Motion Technology by 201.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 923 shares of the semiconductor producer’s stock valued at $37,000 after buying an additional 617 shares during the period. Private Capital Group LLC lifted its holdings in shares of Silicon Motion Technology by 63.5% during the 1st quarter. Private Capital Group LLC now owns 1,630 shares of the semiconductor producer’s stock valued at $65,000 after buying an additional 633 shares during the period. Finally, Quantamental Technologies LLC bought a new position in shares of Silicon Motion Technology during the 1st quarter valued at $28,000. 69.90% of the stock is currently owned by hedge funds and other institutional investors.

About Silicon Motion Technology

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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Earnings History and Estimates for Silicon Motion Technology (NASDAQ:SIMO)

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