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.
Analysts Set New Price Targets
SIMO has been the topic of a number of recent analyst reports. Roth Capital cut shares of Silicon Motion Technology from a "buy" rating to a "neutral" rating in a research note on Thursday, May 5th. Wedbush decreased their target price on Silicon Motion Technology from $115.00 to $110.00 in a research report on Thursday, July 28th. Susquehanna downgraded Silicon Motion Technology from a "positive" rating to a "neutral" rating in a report on Thursday, May 5th. StockNews.com lowered Silicon Motion Technology from a "buy" rating to a "hold" rating in a research note on Friday, July 29th. Finally, Needham & Company LLC lowered Silicon Motion Technology from a "buy" rating to a "hold" rating in a research note on Thursday, May 5th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Silicon Motion Technology has a consensus rating of "Hold" and a consensus target price of $102.14.
Silicon Motion Technology Stock Up 0.4 %
Shares of NASDAQ:SIMO opened at $80.43 on Monday. The business's 50 day moving average price is $85.62 and its 200 day moving average price is $80.67. The firm has a market cap of $2.66 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.27 and a beta of 0.97. Silicon Motion Technology has a 52 week low of $64.41 and a 52 week high of $98.65.
Silicon Motion Technology (NASDAQ:SIMO - Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The semiconductor producer reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.19. Silicon Motion Technology had a return on equity of 33.80% and a net margin of 21.92%. The company had revenue of $242.00 million during the quarter, compared to the consensus estimate of $239.46 million. During the same period in the previous year, the company posted $0.98 earnings per share. Silicon Motion Technology's revenue for the quarter was up 32.7% on a year-over-year basis. As a group, research analysts expect that Silicon Motion Technology will post 7.03 earnings per share for the current year.
Silicon Motion Technology Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, August 10th. Silicon Motion Technology's payout ratio is presently 30.80%.