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Silicon Motion (SIMO) Stock Sinks As Market Gains: What You Should Know
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Silicon Motion (SIMO - Free Report) closed the most recent trading day at $59.20, moving -1.22% from the previous trading session. This change lagged the S&P 500's 0.77% gain on the day. Elsewhere, the Dow gained 0.47%, while the tech-heavy Nasdaq added 0.87%.
The the stock of chip company has risen by 0.49% in the past month, lagging the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 4.87%.
Market participants will be closely following the financial results of Silicon Motion in its upcoming release. The company plans to announce its earnings on October 30, 2024. The company is predicted to post an EPS of $0.85, indicating a 34.92% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $211.13 million, indicating a 22.52% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.45 per share and a revenue of $817.89 million, demonstrating changes of +51.98% and +27.97%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Silicon Motion. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.21% upward. Silicon Motion is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Silicon Motion is currently being traded at a Forward P/E ratio of 17.36. This expresses no noticeable deviation compared to the average Forward P/E of 17.36 of its industry.
Meanwhile, SIMO's PEG ratio is currently 0.78. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Computer - Integrated Systems industry held an average PEG ratio of 3.37.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Silicon Motion (SIMO) Stock Sinks As Market Gains: What You Should Know
Silicon Motion (SIMO - Free Report) closed the most recent trading day at $59.20, moving -1.22% from the previous trading session. This change lagged the S&P 500's 0.77% gain on the day. Elsewhere, the Dow gained 0.47%, while the tech-heavy Nasdaq added 0.87%.
The the stock of chip company has risen by 0.49% in the past month, lagging the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 4.87%.
Market participants will be closely following the financial results of Silicon Motion in its upcoming release. The company plans to announce its earnings on October 30, 2024. The company is predicted to post an EPS of $0.85, indicating a 34.92% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $211.13 million, indicating a 22.52% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.45 per share and a revenue of $817.89 million, demonstrating changes of +51.98% and +27.97%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Silicon Motion. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.21% upward. Silicon Motion is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Silicon Motion is currently being traded at a Forward P/E ratio of 17.36. This expresses no noticeable deviation compared to the average Forward P/E of 17.36 of its industry.
Meanwhile, SIMO's PEG ratio is currently 0.78. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Computer - Integrated Systems industry held an average PEG ratio of 3.37.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.