In last trading session, Silicon Motion Technology Corporation (NASDAQ:SIMO) saw 0.38 million shares changing hands with its beta currently measuring 1.13. Company’s recent per share price level of $92.00 trading at $1.5 or 1.66% at ring of the bell on the day assigns it a market valuation of $3.21B. That closing price of SIMO’s stock is at a discount of -5.32% from its 52-week high price of $96.89 and is indicating a premium of 48.37% from its 52-week low price of $47.50. Taking a look at company’s average trading volume of 359.63K if we extend that period to 3-months.
For Silicon Motion Technology Corporation (SIMO), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 2.20. Splitting up the data highlights that, out of 9 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 8 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $1.75 in the current quarter.
Silicon Motion Technology Corporation (NASDAQ:SIMO) trade information
Upright in the green during last session for gaining 1.66%, in the last five days SIMO remained trading in the red while hitting it’s week-highest on Thursday, 01/13/22 when the stock touched $92.00 price level, adding 2.55% to its value on the day. Silicon Motion Technology Corporation’s shares saw a change of -3.19% in year-to-date performance and have moved -0.05% in past 5-day. Silicon Motion Technology Corporation (NASDAQ:SIMO) showed a performance of 5.55% in past 30-days.
Wall Street analysts have assigned a consensus price target of $108.67 to the stock, which implies a rise of 15.34% to its current value. Analysts have been projecting $78.00 as a low price target for the stock while placing it at a high target of $130.00. It follows that stock’s current price would drop -41.3% in reaching the projected high whereas dropping to the targeted low would mean a gain of 15.22% for stock’s current value.
Silicon Motion Technology Corporation (SIMO) estimates and forecasts
Statistics highlight that Silicon Motion Technology Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company added 53.79% of value to its shares in past 6 months, showing an annual growth rate of 87.65% while that of industry is 27.80. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 103.50% in the current quarter and calculating 41.40% increase in the next quarter. This year revenue growth is estimated to rise 70.40% from the last financial year’s standing.
8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $261.37 million for the same. And 8 analysts are in estimates of company making revenue of $245.66 million in the next quarter that will end on Mar 2022. Company posted $143.9 million and $168.97 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 81.60% while estimating it to be 45.40% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 5.70% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 25.00% while estimates for its earnings growth in next 5 years are of 7.00%.
Silicon Motion Technology Corporation is more likely to be releasing its next quarterly report between February 01 and February 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Silicon Motion Technology Corporation (NASDAQ:SIMO)’s Major holders
Insiders are in possession of 0.00% of company’s total shares while institution are holding 83.23 percent of that, with stock having share float percentage of 83.23%. Investors also watch the number of corporate investors in a company very closely, which is 83.23% institutions for Silicon Motion Technology Corporation that are currently holding shares of the company. Cardinal Capital Management LLC is the top institutional holder at SIMO for having 2.52 million shares of worth $173.59 million. And as of Sep 29, 2021, it was holding 7.21% of the company’s outstanding shares.
The second largest institutional holder is Yiheng Capital Management, L.P., which was holding about 1.55 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 4.44% of outstanding shares, having a total worth of $107.02 million.
On the other hand, Lord Abbett Developing Growth Fund and Loomis Sayles Small Cap Growth Fund are the top two Mutual Funds which own company’s shares. As of Oct 30, 2021, the former fund manager was holding 0.6 million shares of worth $43.11 million or 1.73% of the total outstanding shares. The later fund manager was in possession of 0.42 million shares on Sep 29, 2021, making its stake of worth around $28.65 million in the company or a holder of 1.19% of company’s stock.