The stock of Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) is a huge mover today! About 326,506 shares traded hands. Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) has risen 53.73% since February 29, 2016 and is uptrending. It has outperformed by 41.51% the S&P500.
The move comes after 6 months positive chart setup for the $1.83B company. It was reported on Oct, 3 by Barchart.com. We have $70.60 PT which if reached, will make NASDAQ:SIMO worth $658.80M more.
Analysts await Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) to report earnings on October, 26. They expect $0.74 earnings per share, up 54.17% or $0.26 from last year’s $0.48 per share. SIMO’s profit will be $26.09 million for 17.54 P/E if the $0.74 EPS becomes a reality. After $0.85 actual earnings per share reported by Silicon Motion Technology Corp. (ADR) for the previous quarter, Wall Street now forecasts -12.94% negative EPS growth.
Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) Ratings Coverage
Out of 10 analysts covering Silicon Motion (NASDAQ:SIMO), 8 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 80% are positive. Silicon Motion has been the topic of 12 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Brean Capital given on Wednesday, March 23. Craig Hallum maintained it with “Buy” rating and $38 target price in Friday, January 29 report. As per Wednesday, April 6, the company rating was downgraded by Ladenburg Thalmann. The stock has “Positive” rating given by Susquehanna on Tuesday, September 8. Bank of America downgraded Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) on Tuesday, August 18 to “Underperform” rating. The firm earned “Buy” rating on Friday, January 29 by Topeka Capital Markets. The stock has “Outperform” rating given by Pacific Crest on Monday, August 17. The rating was upgraded by Standpoint Research on Thursday, January 14 to “Buy”. Brean Capital maintained the shares of SIMO in a report on Wednesday, July 29 with “Buy” rating. The firm has “Buy” rating given on Tuesday, July 28 by Topeka Capital Markets.
According to Zacks Investment Research, “Silicon Motion Technology Corporation designs, develops and markets universally compatible and low-power semiconductor solutions for the multimedia consumer electronics market. The company sells its semiconductor solutions to original equipment manufacturers and design manufacturers worldwide.”
More recent Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) news were published by: Marketwatch.com which released: “Silicon Motion Technology Corp. ADR” on December 22, 2009. Also Quotes.Wsj.com published the news titled: “DOW JONES, A NEWS CORP COMPANY” on February 14, 2011. Benzinga.com‘s news article titled: “Silicon Motion Tech Is Down 38% In Two Months. Buy The Dip?” with publication date: August 17, 2015 was also an interesting one.
SIMO Company Profile
Silicon Motion Technology Corporation, incorporated on January 27, 2005, is a fabless semiconductor company. The Firm designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other clients 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. In the mobile storage market, the Company’s products are controllers used in embedded storage products, such as Solid State Drives (SSDs), and Embedded Multimedia Cards (eMMCs), as well as expandable storage products, such as flash memory cards and universal serial bus (USB) flash drives. For the mobile communications market, the Company’s products are handset transceivers and mobile television (TV) System on Chips (SoCs). The Company’s products are used in consumer devices, such as smartphones, tablets and personal computers (PCs) and for industrial, enterprise, commercial and other applications. The Firm markets its controllers under the SMI brand; its enterprise-grade SSDs under the Shannon Systems brand; its single-chip industrial-grade SSDs under the Ferri SSD and Ferri-eMMC brands, and RF ICs under the FCI brand.
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