Silicon Motion (SIMO) Stock Moves -0.34%: What You Should Know

The latest trading session saw Silicon Motion (SIMO) ending at $56.11, denoting a -0.34% adjustment from its last day's close. This change was narrower than the S&P 500's 1.11% loss on the day. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 1.89%.The the stock of chip company has fallen by 1.28% in the past month, lagging the Computer and Technology sector's gain of 1.83% and overreaching the S&P 500's loss of 1.7%.Analysts and investors alike will be keeping a close eye on the performance of Silicon Motion in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.74, signifying a 20.43% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $196.65 million, reflecting a 2.83% fall from the equivalent quarter last year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Silicon Motion. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Silicon Motion is currently a Zacks Rank #3 (Hold).Investors should also note Silicon Motion's current valuation metrics, including its Forward P/E ratio of 14.1. This denotes a discount relative to the industry's average Forward P/E of 17.73.We can also see that SIMO currently has a PEG ratio of 0.99. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Computer - Integrated Systems industry stood at 1.87 at the close of the market yesterday.The Computer - Integrated Systems industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 38, this industry ranks in the top 16% of all industries, numbering over 250.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Silicon Motion Technology Corporation (SIMO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks