Silicon Motion Technology Corp reports results for the quarter ended June 30 - Earnings Summary

• Silicon Motion Technology Corp SIMO reported quarterly adjusted earnings of 69 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 96 cents. The mean expectation of nine analysts for the quarter was for earnings of 55 cents per share. Wall Street expected results to range from 49 cents to 62 cents per share.

• Revenue fell 5.7% to $198.68 million from a year ago; analysts expected $180.27 million.

• Silicon Motion Technology Corp's reported EPS for the quarter was 49 cents​.

• The company reported quarterly net income of $16.31 million.

• Silicon Motion Technology Corp shares had risen by 2.0% this quarter and gained 41.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2.5% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the semiconductors peer group is also "buy"

• Wall Street's median 12-month price target for Silicon Motion Technology Corp is $90.00, about 14.8% above its last closing price of $76.64

This summary was machine generated from LSEG data July 31 at 06:25 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)