Could Silicon Motion Technology Corp. (ADR) Lose Strenght? Option Traders Don’t Think So

 Could Silicon Motion Technology Corp. (ADR) Lose Strenght? Option Traders Don't Think So

In today’s session Silicon Motion Technology Corp. (ADR) (SIMO) registered an unusually high (291) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious SIMO increase. With 291 contracts traded and 3294 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: SIMO161021C00050000 closed last at: $0.45 or 80.4% down. About 275,874 shares traded hands. Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) has risen 41.94% since March 14, 2016 and is uptrending. It has outperformed by 36.33% the S&P500.

Analysts await Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) to report earnings on October, 26. They expect $0.74 earnings per share, up 54.17% or $0.26 from last year’s $0.48 per share. SIMO’s profit will be $26.41M for 16.09 P/E if the $0.74 EPS becomes a reality. After $0.85 actual earnings per share reported by Silicon Motion Technology Corp. (ADR) for the previous quarter, Wall Street now forecasts -12.94% negative EPS growth.

Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) Ratings Coverage

Out of 10 analysts covering Silicon Motion (NASDAQ:SIMO), 8 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 80% are positive. Silicon Motion has been the topic of 12 analyst reports since July 28, 2015 according to StockzIntelligence Inc. On Thursday, January 14 the stock rating was upgraded by Standpoint Research to “Buy”. The firm has “Buy” rating by Topeka Capital Markets given on Tuesday, July 28. The firm has “Neutral” rating by Ladenburg Thalmann given on Wednesday, April 6. As per Tuesday, August 18, the company rating was downgraded by Bank of America. Brean Capital maintained the stock with “Buy” rating in Wednesday, March 23 report. The company was maintained on Friday, July 8 by Needham. Craig Hallum maintained Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) rating on Friday, January 29. Craig Hallum has “Buy” rating and $38 price target. Topeka Capital Markets maintained it with “Buy” rating and $37 target price in Friday, January 29 report. The stock of Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) has “Outperform” rating given on Monday, August 17 by Pacific Crest. Susquehanna initiated the stock with “Positive” rating in Tuesday, September 8 report.

According to Zacks Investment Research, “Silicon Motion Technology Corporation designs, develops and markets universally compatible and low-power semiconductor solutions for the multimedia consumer electronics market. The company sells its semiconductor solutions to original equipment manufacturers and design manufacturers worldwide.”

Silicon Motion Technology Corporation is a fabless semiconductor company. The company has a market cap of $1.70 billion. The Firm designs, develops and markets low-power semiconductor solutions to original equipment manufacturers and other clients in the mobile storage and mobile communications markets. It has a 21.41 P/E ratio. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

SIMO Company Profile

Silicon Motion Technology Corporation, incorporated on January 27, 2005, is a fabless semiconductor company. The Firm designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other clients in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices. In the mobile storage market, the Company’s products are controllers used in embedded storage products, such as Solid State Drives (SSDs), and Embedded Multimedia Cards (eMMCs), as well as expandable storage products, such as flash memory cards and universal serial bus (USB) flash drives. For the mobile communications market, the Company’s products are handset transceivers and mobile television (TV) System on Chips (SoCs). The Company’s products are used in consumer devices, such as smartphones, tablets and personal computers (PCs) and for industrial, enterprise, commercial and other applications. The Firm markets its controllers under the SMI brand; its enterprise-grade SSDs under the Shannon Systems brand; its single-chip industrial-grade SSDs under the Ferri SSD and Ferri-eMMC brands, and RF ICs under the FCI brand.

More important recent Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) news were published by: Marketwatch.com which released: “Silicon Motion Technology Corp. ADR” on December 22, 2009, also Quotes.Wsj.com published article titled: “DOW JONES, A NEWS CORP COMPANY”, Schaeffersresearch.com published: “Buzz Stocks: Honeywell International Inc., ArcelorMittal SA (ADR), and Silicon …” on October 07, 2016. More interesting news about Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) was released by: Nasdaq.com and their article: “Mid-Morning Market Update: Markets Open Lower; Silicon Motion Raises Q3 Forecast” with publication date: October 07, 2016.

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