Stock Worth Mentioning: Could Silicon Motion Technology Corp. (ADR) Crash Even More? The Stock Had Another Big Decline Today

Stock Worth Mentioning: Could Silicon Motion Technology Corp. (ADR) Crash Even More? The Stock Had Another Big Decline Today

The stock of Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) is a huge mover today! About 406,380 shares traded hands. Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) has risen 60.84% since March 9, 2016 and is uptrending. It has outperformed by 53.43% the S&P500.
The move comes after 9 months negative chart setup for the $1.78 billion company. It was reported on Oct, 12 by Barchart.com. We have $47.90 PT which if reached, will make NASDAQ:SIMO worth $106.80 million less.

Analysts await Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) to report earnings on October, 26. They expect $0.74 EPS, up 54.17% or $0.26 from last year’s $0.48 per share. SIMO’s profit will be $25.85 million for 17.22 P/E if the $0.74 EPS becomes a reality. After $0.85 actual EPS 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 stock of Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) earned “Buy” rating by Craig Hallum on Friday, January 29. The stock of Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) earned “Buy” rating by Roth Capital on Thursday, September 29. The stock of Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) earned “Buy” rating by Brean Capital on Wednesday, March 23. The stock of Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) has “Outperform” rating given on Monday, August 17 by Pacific Crest. The rating was maintained by Needham on Friday, July 8 with “Buy”. Topeka Capital Markets maintained the stock with “Buy” rating in Friday, January 29 report. As per Wednesday, July 29, the company rating was maintained by Brean Capital. On Wednesday, April 6 the stock rating was downgraded by Ladenburg Thalmann to “Neutral”. Topeka Capital Markets maintained Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) on Tuesday, July 28 with “Buy” rating. The stock has “Positive” rating given by Susquehanna on Tuesday, September 8.

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 important 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 article titled: “DOW JONES, A NEWS CORP COMPANY”, Schaeffersresearch.com published: “Buzz Stocks: Honeywell International Inc., ArcelorMittal SA (ADR), and Silicon …” on October 07, 2016. More interesting news about Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) was released by: Nasdaq.com and their article: “Mid-Morning Market Update: Markets Open Lower; Silicon Motion Raises Q3 Forecast” with publication date: October 07, 2016.

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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