The stock of Silicon Motion Technology Corporation (NASDAQ:SIMO) decreased by -$3.22 on Wednesday to $54.79, down -5.55 percent. The last five days have seen an average of 505,466 shares of common stock traded. 15 times new highs were reached in the current year, with a fall of -$9.93. The average number of shares traded over the last 20 days was 2,298,681, while the average volume over the last 50 days totaled 1,370,269.
SIMO stock dropped -11.08% since last month. On 07/25/23, the company’s shares reached a one-month low of $51.44. The stock touched a high of $95.33 on 07/26/23, after rallying from a low of $51.44 in 52 weeks. The price of SIMO stock has declined by -15.69% or -$9.93 this year, reaching a new high 15 times. Still, the stock price is down -42.53% from the 52-week high.
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Valuation Metrics
Silicon Motion Technology Corporation (SIMO) has a trailing price-to-earnings (P/E) ratio of 11.94. Beta for the stock is 0.93. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.58, the price-to-book (PB) ratio of 0.60, and the price-to-cash flow ratio of 21.59.
Company paid $0.50 per share in dividends, remained unchanged from $0.50 last year.
Financial Health
For the three months ended June 29, Silicon Motion Technology Corporation’s quick ratio was 3.90, while its current ratio was 6.00, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 44.00% percent. Silicon Motion Technology Corporation’s EBITDA margin for the year ended June 29 was 24.66%, whereas its operating margin stood at 12.30% for the same period. Based on annual data, it had gross profit of $465.83 million and revenue of $945.92 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SIMO’s return on assets (ROA) during the last 12 months has been 9.20%. There was a 23.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 11.90%.
Earnings Surprise
According to Silicon Motion Technology Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $945.92 million, while revenues rose by 2.52% to $0.0. It was predicted that Silicon Motion Technology Corporation’s quarterly earnings would be $0.38, but it ended up being $0.48, beating the consensus by -20.80%. EBITDA was $7.2 million for the quarter.
Technical Picture
Here’s a quick look at Silicon Motion Technology Corporation’s (SIMO) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 33.58%, suggesting the stock is Neutral, with a 20.90% historical volatility rate.
The stochastic %K and %D were 23.76% and 21.84% respectively, while the average true range (ATR) was 3.28. Based on the 14-day stochastic reading of 7.33%, the RSI (14) reading is 38.88%. On the 9-day MACD Oscillator, the stock is at -1.98, and the 14-day reading is at -3.20.
Analyst Ratings
In its most recent analyst report, Needham raised its rating on Silicon Motion Technology Corporation (NASDAQ: SIMO) to a Buy. Prior to this, analysts firm rated the stock as a Hold. Analysts have assigned Silicon Motion Technology Corporation (SIMO) an Overweight rating. SIMO is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 5 others recommend it as a buy.
What is SIMO’s price target for the next 12 months?
The current consensus forecast for the stock is between $56.00 and $106.00, with a median target price of $72.50. In analyzing these forecasts, the average price target given by analysts for Silicon Motion Technology Corporation (SIMO) is $75.10.
