News articles about Silicon Motion Technology Corporation (NASDAQ:SIMO) have trended somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies positive and negative news coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Silicon Motion Technology Corporation earned a coverage optimism score of 0.23 on Accern’s scale. Accern also gave news headlines about the semiconductor producer an impact score of 46.3975210869904 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Several analysts recently commented on SIMO shares. B. Riley reaffirmed a “buy” rating and issued a $68.75 price objective on shares of Silicon Motion Technology Corporation in a report on Monday, July 10th. Roth Capital cut their price objective on Silicon Motion Technology Corporation from $60.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 1st. Lake Street Capital reaffirmed a “buy” rating and issued a $50.00 price objective (down previously from $56.00) on shares of Silicon Motion Technology Corporation in a report on Wednesday, August 2nd. Craig Hallum reaffirmed a “buy” rating and issued a $60.00 price objective (down previously from $67.00) on shares of Silicon Motion Technology Corporation in a report on Wednesday, August 2nd. Finally, Summit Redstone reaffirmed a “hold” rating on shares of Silicon Motion Technology Corporation in a report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $56.63.
Silicon Motion Technology Corporation (NASDAQ:SIMO) traded down 0.880% during midday trading on Monday, hitting $46.725. The company had a trading volume of 135,631 shares. The firm has a market capitalization of $1.67 billion, a P/E ratio of 15.796 and a beta of 0.67. The company has a 50 day moving average price of $43.31 and a 200 day moving average price of $46.32. Silicon Motion Technology Corporation has a 1-year low of $37.37 and a 1-year high of $55.68.
Silicon Motion Technology Corporation (NASDAQ:SIMO) last posted its quarterly earnings data on Monday, July 31st. The semiconductor producer reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Silicon Motion Technology Corporation had a return on equity of 24.24% and a net margin of 18.91%. The firm had revenue of $132.70 million during the quarter, compared to analyst estimates of $132.92 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. Equities research analysts forecast that Silicon Motion Technology Corporation will post $2.67 earnings per share for the current fiscal year.
Silicon Motion Technology Corporation declared that its board has authorized a share buyback program on Monday, July 31st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the semiconductor producer to purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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About Silicon Motion Technology Corporation
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.
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