What is B. Riley’s Forecast for SIMO FY2024 Earnings?

Silicon Motion Technology Co. (NASDAQ:SIMO) – Investment analysts at B. Riley reduced their FY2024 earnings per share estimates for shares of Silicon Motion Technology in a report released on Tuesday, January 7th. B. Riley analyst C. Ellis now expects that the semiconductor producer will post earnings per share of $2.49 for the year, down from their prior estimate 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 issued its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.07. The company had revenue of $212.40 million for the quarter, compared to analysts’ expectations of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share.

Several other equities research analysts have also commented on SIMO. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a research report on Monday, December 23rd. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Roth Mkm cut their price objective on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. Craig Hallum decreased their target price on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Morgan Stanley cut their price target on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock opened at $55.17 on Thursday. The stock has a market cap of $1.86 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. The stock has a fifty day moving average of $54.88 and a 200 day moving average of $61.46. Silicon Motion Technology has a one year low of $50.50 and a one year high of $85.87.

Silicon Motion Technology Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SIMO. Principal Financial Group Inc. raised its position in shares of Silicon Motion Technology by 139.3% in the 2nd quarter. Principal Financial Group Inc. now owns 17,020 shares of the semiconductor producer’s stock worth $1,378,000 after acquiring an additional 9,909 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Silicon Motion Technology by 29.9% during the second quarter. Commonwealth Equity Services LLC now owns 11,788 shares of the semiconductor producer’s stock worth $955,000 after acquiring an additional 2,714 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Silicon Motion Technology by 6,186.7% during the second quarter. National Bank of Canada FI now owns 47,150 shares of the semiconductor producer’s stock valued at $3,766,000 after acquiring an additional 46,400 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Silicon Motion Technology in the 2nd quarter valued at approximately $139,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Silicon Motion Technology in the 2nd quarter worth approximately $223,000. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Company Profile

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.