Silicon Motion Technology Beats on Both Top and Bottom Lines
Silicon Motion Technology (NAS: SIMO) reported earnings on April 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Silicon Motion Technology beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share grew significantly.
Margins grew across the board.
Silicon Motion Technology tallied revenue of $64.0 million. The five analysts polled by S&P Capital IQ wanted to see sales of $61.2 million on the same basis. GAAP reported sales were 48% higher than the prior-year quarter's $43.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.39. The five earnings estimates compiled by S&P Capital IQ predicted $0.26 per share. GAAP EPS of $0.39 for Q1 were 95% higher than the prior-year quarter's $0.20 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 49.4%, 320 basis points better than the prior-year quarter. Operating margin was 20.8%, 840 basis points better than the prior-year quarter. Net margin was 20.3%, 550 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $68.4 million. On the bottom line, the average EPS estimate is $0.36.
Next year's average estimate for revenue is $282.2 million. The average EPS estimate is $1.50.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 775 members out of 799 rating the stock outperform, and 24 members rating it underperform. Among 204 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 201 give Silicon Motion Technology a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Silicon Motion Technology is buy, with an average price target of $30.40.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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