Silicon Motion Technology Corporation (NASDAQ:SIMO) is reporting third quarter financial results on Monday 2nd November 2020, after market close.
According to analysts surveyed by Thomson Reuters, SIMO is expected to report 3Q20 income of $ 0.67 per share from revenue of $ 120.05 million.
For the full year, analysts anticipate top line of $ 517.93 million, while looking forward to income of $ 2.88 per share bottom line.
The Company Outlook
Revenue for 3Q20 are expected in a range of $ 126.00 million ~ $ 126.00 million
Full Year 2020 topline are forecasted in a range of$ 508.00 million ~ $ 521.00 million
Click Here For More Historical Outlooks Of Silicon Motion Technology Corporation
Previous Quarter Performance
Silicon Motion Technology Corporation disclosed income for the second quarter of $ 0.81 per share, from the revenue of $ 136.81 million. According to street consensus, SIMO was expected to report 2Q20 income of $ 0.74 per share from revenue of $ 137.00 million. The bottom line results beat street analysts by $ 0.07 or 9.46 percent, at the same time, top line results fell short of analysts by $ 0.19 million or 0.14 percent.
Stock Performance
On Friday, shares of Silicon Motion Technology Corporation has traded high as $ 38.55 and has cracked $ 37.27 on the downward trend, reaching $ 37.74 with volume of 159.60 thousand shares.
According to the previous trading day, closing price of $ 37.74, representing a 43.11 % increase from the 52 week low of $ 26.72 and a 27.9 % decrease over the 52 week high of $ 53.04.
The company has a market capital of $ 1.33 billion and is part of the Technology sector and Semiconductors industry.
Recent Analyst recommendations
- On 24th September 2020, upgraded by Wedbush to Outperform from Neutral rating, with $ 46.00 target price.
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products. The company also provides specialty storage solutions, such as customized enterprise-grade peripheral component interconnect express SSDs; and industrial-grade and commercial-grade single-chip SSDs.
