Silicon Motion Technology Corporation (NASDAQ:SIMO – Get Free Report) declared a quarterly dividend on Friday, October 16th. Investors of record on Thursday, November 5th will be given a dividend of $0.5750 per share by the semiconductor producer on Thursday, November 19th. This represents a $2.30 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, November 5th. This is a 15.0% increase from Silicon Motion Technology’s previous quarterly dividend of $0.50.
Silicon Motion Technology has increased its dividend by an average of 0.1% annually over the last three years. Silicon Motion Technology has a payout ratio of 52.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Silicon Motion Technology to earn $15.58 per share next year, which means the company should continue to be able to cover its $2.29 annual dividend with an expected future payout ratio of 14.7%.
Silicon Motion Technology Stock Down 9.9%
Shares of Silicon Motion Technology stock opened at $187.90 on Tuesday. The stock has a market cap of $6.37 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 0.39 and a beta of 1.69. The business has a fifty day simple moving average of $247.43 and a 200 day simple moving average of $213.90. Silicon Motion Technology has a 12 month low of $79.76 and a 12 month high of $355.00.
Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The semiconductor producer reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $1.05. Silicon Motion Technology had a return on equity of 34.05% and a net margin of 0.06%. The company had revenue of $560.22 million during the quarter, compared to the consensus estimate of $529.10 million. During the same period in the prior year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was up 131.5% compared to the same quarter last year. Analysts expect that Silicon Motion Technology will post 10.60 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on SIMO. B. Riley Financial reiterated a “buy” rating and issued a $310.00 price target (up from $288.00) on shares of Silicon Motion Technology in a report on Friday. Roth Capital reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Silicon Motion Technology in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Silicon Motion Technology from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Wall Street Zen cut Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Craig Hallum reiterated a “buy” rating and set a $325.00 target price on shares of Silicon Motion Technology in a report on Friday, July 31st. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $331.25.
View Our Latest Research Report on Silicon Motion Technology
About Silicon Motion Technology
Silicon Motion Technology Corporation is a fabless semiconductor company that designs, develops and markets NAND flash storage controllers. Its products manage the storage, performance, reliability and power consumption of data stored in NAND flash memory and are used in a range of consumer, mobile, computing and industrial applications.
The company’s product portfolio includes controllers for solid-state drives (SSDs), embedded storage products such as eMMC and UFS devices, and other flash-based storage solutions.
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