Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications. It markets its controllers under the SMI brand; enterprise-grade SSDs under the Shannon Systems brand; and single-chip industrial-grade SSDs under the Ferri SSD, Ferri-eMMC, and Ferri-UFS brands. The company markets and sells its products through direct sales personnel and independent electronics distributors to NAND flash makers, module makers, hyperscalers, and OEMs. It operates in Taiwan, the United States, South Korea, China, Malaysia, Singapore, and internationally. Silicon Motion Technology Corporation was founded in 1995 and is based in Hong Kong, Hong Kong.
Silicon Motion Technology Stock Performance
NASDAQ:SIMO traded down $2.44 during trading on Tuesday, hitting $80.12. The stock had a trading volume of 481,086 shares, compared to its average volume of 631,518. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.27 and a beta of 0.97. Silicon Motion Technology has a one year low of $64.41 and a one year high of $98.65. The stock has a 50 day simple moving average of $85.47 and a 200 day simple moving average of $80.64.
Silicon Motion Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, August 10th. Silicon Motion Technology's dividend payout ratio (DPR) is 30.80%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on SIMO. StockNews.com lowered Silicon Motion Technology from a "buy" rating to a "hold" rating in a research report on Friday, July 29th. Roth Capital lowered Silicon Motion Technology from a "buy" rating to a "neutral" rating in a research report on Thursday, May 5th. Susquehanna lowered Silicon Motion Technology from a "positive" rating to a "neutral" rating in a research report on Thursday, May 5th. Wedbush dropped their price target on Silicon Motion Technology from $115.00 to $110.00 in a research report on Thursday, July 28th. Finally, Susquehanna Bancshares lowered Silicon Motion Technology from a "positive" rating to a "neutral" rating in a research report on Thursday, May 5th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Silicon Motion Technology presently has a consensus rating of "Hold" and an average target price of $102.14.