Silicon Motion Technology Corporation

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026.

Is the business growing?

Fiscal years: Yahoo Finance.

How it makes money

Of every $100 in revenue, $13.8 ends up as net income. Net margin fell from 18.2% to 13.8% over the past 3 years.

Each margin is that line of the income statement divided by revenue. Fiscal year: Yahoo Finance, operating income as filed with the SEC where its quarters cover the year.

Where it is in the chip cycle

Gross margin 53.6% and rising for 2 quarters; inventory at 336 days, up from 167 a year earlier; capital spending 3.5% of revenue over the last 4 quarters.

Inventory days: year-end inventory over that year's cost of revenue, times 365.

Customers and suppliers

In its latest annual report Silicon Motion Technology buys from TSMC, SMIC, ASE Technology and 6 more; sells to PHISEMI, Kioxia Holdings, AFASTOR and 2 more.

Their suppliers

Lam Research LRCXto ASE Technology, TSMC

Teradyne TERto ASE Technology

Advantest ATEYYto ASE Technology

KLA KLACto TSMC

Onto Innovation ONTOto TSMC

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Suppliers

ASE Technology ASX

TSMC TSM

H

HT

KYEC 2449.TW

OSE

Powertech Technology 6239.TW

SMIC 0981.HK

Tongfu Microelectronics 002156.SZ

Y

YTEC

+1 more

 

SIMOSilicon Motion Technology

Customers

Kioxia Holdings KXIAY 10%

Micron Technology MU 10%

SK hynix SKHY 10%

A

AFASTOR 10%

P

PHISEMI 10%

Their customers

Penguin Solutions PENGfrom Kioxia Holdings, Micron Technology +1

Sandisk SNDKfrom Kioxia Holdings

Fortinet FTNTfrom Micron Technology

NVIDIA NVDAfrom Micron Technology, SK hynix

ESSENCOREfrom SK hynix

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Changes since the previous annual report (20-F filed Apr 30, 2025)

OSENamed for the first time, as a supplier

Tongfu MicroelectronicsNamed for the first time, as a supplier

Only the companies Silicon Motion Technology names in its 20-F filed Apr 30, 2026 (SEC). The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Hover a name for the filing's own words.

Is it expensive?

P/E of 19.3x, in line with the peer median of 21x, with earnings still growing.

In line with the peer median of 21x.

What analysts expect

The average analyst price target is $363, 102% above the current price; 92% of 13 analysts rate it a buy; earnings beat estimates in 3 of the last 4 quarters.

Buy or Strong Buy: 12 analysts (92%). Sell or Strong Sell: 0.

Over the past year the average of the analysts' latest price targets went from $111.67 to $348.75 (+212%), while SIMO went from $86.60 to $179.50 (+107%). In the past three months targets were raised once and cut twice. No firm upgraded or downgraded it over the year.

For the quarter ending Dec 2026, analysts expect adjusted earnings of $5.17 a share, 310% more than the $1.26 of a year earlier, and revenue of $604M. For the fiscal year ending Dec 2027, they expect adjusted earnings of $21.55 a share, 58% more than the year before's estimate of $13.63, and revenue of $2.7B, up 40% on the year before's estimate.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Capex of $56M exceeds operating cash flow of −$350M, leaving free cash flow of −$406M. It still paid $68M to shareholders (dividends plus buybacks), so $474M had to come from cash on hand or borrowing.

Free cash flow: operating cash flow minus capital spending. Last 4 quarters: Yahoo Finance, buybacks from SEC filings where they have the quarter.

Financial health

Current ratio 2.8, no pressure to repay short-term debt; debt-to-equity 0.0, debt is very low and the balance sheet is solid.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

In the filings of 3 funds whose copy leaves SIMO out (on the exchange, not in the app yet): UNICOM Systems, Maverick Capital, Mirae Asset Global Investments.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 6 held SIMO at the end of their latest quarter (for most, Q3 2026). Over that quarter 2 added shares, 2 cut, 1 bought new and 1 held the same. The largest of them is First Eagle Investment Management, 52,865 shares worth $14.8M at Sep 30, 2026, 79.0% fewer than a quarter earlier.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of SIMO at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end.

Are insiders buying or selling?

Officers and directors sold $1.9M of SIMO on the open market in the 12 months to Nov 12, 2026; none bought. The largest was Kuan-Ming Lin (Director), who sold $930K in 3 sales.

From the Form 4s filed with the SEC about Silicon Motion Technology Corporation (3 in the 12 months): purchases (code P) and sales (code S) on the open market by its officers and directors, at the price each filing gives (often an average of the day's trades). A sale is a 10b5-1 sale when its filing says it was made under such a plan, set up in advance.