Silicon Motion Technology Corporation (NASDAQ:SIMO) saw a downside of -2.49% to $61.07 after subtracting -$1.56 on Monday. The 5-day average trading volume is 797,632 shares of the company’s common stock. It has gained $63.91 in the past week and touched a new high 1 time within the past 5 days. An average of 2,313,118 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,381,651.
SIMO’s 1-month performance is -3.83% or -$2.46 on its low of $51.44 reached on 07/25/23. The company’s shares have touched a 52-week low of $51.44 and high of $95.33, with the stock’s rally to the 52-week high happening on 07/26/23. YTD, SIMO has lost -6.03% or -$3.95 and has reached a new high 15 times. However, the current price is down -35.94% from the 52-week high price.
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Valuation Metrics
SIMO stock has a beta of 0.91. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.86 while the price-to-book (PB) in the most recent quarter is 0.67, with the price to cash flow ratio at 29.56.
Silicon Motion Technology Corporation’s quick ratio for the period ended June 29 was 3.90, with the current ratio over the same period at 6.00. In terms of profitability, the gross margin trailing 12 months is 44.00%. The trailing 12-month EBITDA margin is 24.66% while for the period ending June 29, Silicon Motion Technology Corporation’s operating margin was 12.30%. The firm’s gross profit as reported stood at $465.83 million against revenue of $945.92 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -15.94% to $172.51 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected SIMO to announce $0.48 per share in earnings in its latest quarter, but it posted $0.38, representing a -20.80% surprise. EBITDA for the quarter stood at more than $7.2 million.
Let’s look briefly at Silicon Motion Technology Corporation (SIMO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 04 August was 49.30% to suggest the stock is trending Neutral, with historical volatility in this time period at 179.67%.
The stock’s 5-day moving average is $62.65, reflecting a -3.72% or -$2.36 change from its current price. SIMO is currently trading -3.87% above its 20-day SMA, -0.81% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +10.34% and SMA200 by+4.88%.
Stochastic %K and %D was 24.41% and 25.78% and the average true range (ATR) pointed at 5.30. The RSI (14) points at 48.42%, while the 14-day stochastic is at 21.87% with the period’s ATR at 5.05. The stock’s 9-day MACD Oscillator is pointing at 0.60 and 3.26 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Silicon Motion Technology Corporation (NASDAQ: SIMO), Needham upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for SIMO stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate SIMO as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 4 have offered a “buy” rating.
