Equities research analysts predict that Silicon Motion Technology Corp. (NASDAQ:SIMO) will announce $123.74 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Silicon Motion Technology’s earnings, with estimates ranging from $122.33 million to $124.63 million. Silicon Motion Technology posted sales of $136.17 million during the same quarter last year, which suggests a negative year over year growth rate of 9.1%. The company is scheduled to announce its next earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Silicon Motion Technology will report full-year sales of $536.58 million for the current fiscal year, with estimates ranging from $529.29 million to $560.00 million. For the next fiscal year, analysts forecast that the business will report sales of $571.66 million, with estimates ranging from $557.59 million to $611.00 million. Zacks Investment Research’s 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 announced its quarterly earnings data on Tuesday, October 30th. The semiconductor producer reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.07. Silicon Motion Technology had a return on equity of 17.92% and a net margin of 17.10%. The company had revenue of $138.60 million for the quarter, compared to analyst estimates of $137.36 million. During the same quarter last year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis.

SIMO has been the topic of several analyst reports. JPMorgan Chase & Co. set a $63.00 price target on Silicon Motion Technology and gave the stock a “buy” rating in a report on Wednesday, October 10th. Craig Hallum reduced their price target on Silicon Motion Technology from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. ValuEngine lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Monday, October 8th. B. Riley reduced their price target on Silicon Motion Technology from $68.75 to $57.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Finally, Zacks Investment Research reiterated a “sell” rating on shares of Silicon Motion Technology in a report on Thursday, November 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Silicon Motion Technology presently has an average rating of “Hold” and a consensus target price of $56.15.

Shares of NASDAQ SIMO traded down $0.62 during trading on Wednesday, hitting $36.49. 413,462 shares of the company were exchanged, compared to its average volume of 407,879. Silicon Motion Technology has a 12-month low of $31.73 and a 12-month high of $61.85. The firm has a market cap of $1.30 billion, a PE ratio of 17.46 and a beta of 0.86.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 8th. This represents a $1.20 annualized dividend and a yield of 3.29%. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 56.94%.

Silicon Motion Technology announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 21st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor producer to purchase up to 15.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in Silicon Motion Technology in the 3rd quarter valued at about $118,000. SG Americas Securities LLC purchased a new stake in Silicon Motion Technology in the 3rd quarter valued at about $121,000. Pitcairn Co. purchased a new stake in Silicon Motion Technology in the 2nd quarter valued at about $201,000. Dynamic Technology Lab Private Ltd purchased a new stake in Silicon Motion Technology in the 3rd quarter valued at about $252,000. Finally, Henry James International Management Inc. purchased a new stake in Silicon Motion Technology in the 3rd quarter valued at about $271,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

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.

Read More: Marijuana Stocks Investing Considerations

Get a free copy of the Zacks research report on Silicon Motion Technology (SIMO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Silicon Motion Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter.