Silicon Motion (SIMO) closed the latest trading day at $57, indicating a -0.26% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.05%. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.18%.

Shares of the chip company witnessed a gain of 4.02% over the previous month, beating the performance of the Computer and Technology sector with its gain of 3.5% and the S&P 500's gain of 2.76%.

Investors will be eagerly watching for the performance of Silicon Motion in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 30, 2024. The company is forecasted to report an EPS of $0.85, showcasing a 34.92% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $211.13 million, up 22.52% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.45 per share and a revenue of $817.89 million, indicating changes of +51.98% and +27.97%, respectively, from the former year.

Any recent changes to analyst estimates for Silicon Motion should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.21% upward. At present, Silicon Motion boasts a Zacks Rank of #3 (Hold).

With respect to valuation, Silicon Motion is currently being traded at a Forward P/E ratio of 16.56. Its industry sports an average Forward P/E of 16.56, so one might conclude that Silicon Motion is trading at no noticeable deviation comparatively.

Also, we should mention that SIMO has a PEG ratio of 0.75. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Computer - Integrated Systems stocks are, on average, holding a PEG ratio of 3.25 based on yesterday's closing prices.