Silicon Motion Technology Corp. (ADR) (SIMO) Releases Earnings Results, Beats Expectations By $0.03 EPS

Silicon Motion Technology Corp. (ADR) (SIMO) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.68 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.65. The company posted revenue of $112.68 million in the period, compared to analysts expectations of $112.03 million. The company’s revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Silicon Motion Technology Corp. (ADR). Company shares were Reiterated by Susquehanna on Apr 20, 2016 to “Positive”, Firm has raised the Price Target to $ 46 from a previous price target of $38 .Company shares were Reiterated by Topeka Capital Markets on Apr 7, 2016 to “Buy”, Firm has raised the Price Target to $ 42 from a previous price target of $37 .Company shares were Reiterated by Craig Hallum on Apr 7, 2016 to “Buy”, Firm has raised the Price Target to $ 48 from a previous price target of $38 .

Silicon Motion Technology Corp. (ADR) closed down -0.56 points or -1.37% at $40.32 with 5,06,609 shares getting traded on Friday. Post opening the session at $40.84, the shares hit an intraday low of $39.99 and an intraday high of $40.9144 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Silicon Motion Technology Corporation (SMTC) is a fabless semiconductor company. The Company designs develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. For the mobile storage market the Company’s products are microcontrollers used in solid state storage devices such as Solid State Drives (SSDs) Embedded Multimedia Cards (eMMCs) and other embedded flash applications as well as removable storage products. For the mobile communications market the Company’s products are mobile communication transceivers and mobile television (TV) System on Chips (SoCs). The Company’s products are used in smartphones tablets notebooks desktop personal computers and industrial and commercial applications. The Company markets its mobile storage products under the SMI brand and mobile communications products under the FCI brand.

Silicon Motion Technology Corp. (ADR)

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