Silicon Motion Technology Corporation (NASDAQ:SIMO) – Research analysts at B. Riley lowered their FY2017 earnings per share estimates for Silicon Motion Technology Corporation in a note issued to investors on Wednesday. B. Riley analyst M. Crawford now forecasts that the brokerage will post earnings of $3.37 per share for the year, down from their previous estimate of $3.39. B. Riley currently has a “Buy” rating and a $68.75 target price on the stock. B. Riley also issued estimates for Silicon Motion Technology Corporation’s Q4 2017 earnings at $0.79 EPS.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last posted its quarterly earnings results on Thursday, October 27th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.13. Silicon Motion Technology Corporation had a net margin of 19.25% and a return on equity of 26.18%. The business earned $158.60 million during the quarter, compared to analysts’ expectations of $149.16 million. During the same quarter in the prior year, the company posted $0.57 EPS. The business’s revenue for the quarter was up 66.2% on a year-over-year basis.

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A number of other equities analysts have also recently issued reports on SIMO. Zacks Investment Research cut shares of Silicon Motion Technology Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Roth Capital initiated coverage on shares of Silicon Motion Technology Corporation in a research report on Wednesday, September 28th. They issued a “buy” rating and a $60.00 price objective for the company. Susquehanna set a $60.00 price objective on shares of Silicon Motion Technology Corporation and gave the company a “buy” rating in a research report on Saturday, October 1st. Northland Securities reissued an “outperform” rating and issued a $60.00 price objective on shares of Silicon Motion Technology Corporation in a research report on Wednesday, October 5th. Finally, Brean Capital reissued a “buy” rating on shares of Silicon Motion Technology Corporation in a research report on Thursday, December 1st. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $53.91.

Silicon Motion Technology Corporation (NASDAQ:SIMO) traded up 3.32% during mid-day trading on Friday, hitting $43.31. 470,563 shares of the stock traded hands. The firm’s 50-day moving average is $44.85 and its 200-day moving average is $48.58. Silicon Motion Technology Corporation has a 12-month low of $27.45 and a 12-month high of $56.25. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 15.67 and a beta of 0.93.

Large investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. increased its stake in Silicon Motion Technology Corporation by 31.4% in the third quarter. Emerald Acquisition Ltd. now owns 314,511 shares of the company’s stock valued at $16,280,000 after buying an additional 75,186 shares in the last quarter. BARING ASSET MANAGEMENT Ltd acquired a new stake in Silicon Motion Technology Corporation during the third quarter valued at about $2,206,000. Acadian Asset Management LLC increased its stake in Silicon Motion Technology Corporation by 541.2% in the third quarter. Acadian Asset Management LLC now owns 674,687 shares of the company’s stock valued at $34,940,000 after buying an additional 569,465 shares in the last quarter. Principal Financial Group Inc. increased its stake in Silicon Motion Technology Corporation by 12.6% in the second quarter. Principal Financial Group Inc. now owns 408,153 shares of the company’s stock valued at $19,510,000 after buying an additional 45,766 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Silicon Motion Technology Corporation by 6,217.3% in the third quarter. Victory Capital Management Inc. now owns 73,470 shares of the company’s stock valued at $3,805,000 after buying an additional 72,307 shares in the last quarter. Institutional investors own 67.42% of the company’s stock.

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Silicon Motion Technology Corporation Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

5 Day Chart for NASDAQ:SIMO

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