Silicon Motion Technology Corporation (SIMO) To Go Ex-Dividend on May 7th

Silicon Motion Technology Corporation (NASDAQ:SIMO) declared a quarterly dividend on Monday, October 27th. Shareholders of record on Thursday, May 7th will be paid a dividend of 0.50 per share by the semiconductor producer on Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, May 7th.

Silicon Motion Technology has increased its dividend payment by an average of 0.1%annually over the last three years. Silicon Motion Technology has a payout ratio of 45.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Silicon Motion Technology to earn $9.31 per share next year, which means the company should continue to be able to cover its $1.99 annual dividend with an expected future payout ratio of 21.4%.

Silicon Motion Technology Trading Down 3.1%

Shares of SIMO stock opened at $227.16 on Tuesday. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 45.16, a price-to-earnings-growth ratio of 0.77 and a beta of 1.67. The stock has a 50 day simple moving average of $130.66 and a 200-day simple moving average of $112.17. Silicon Motion Technology has a 12-month low of $51.31 and a 12-month high of $243.89.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. The business had revenue of $342.11 million for the quarter, compared to analysts’ expectations of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The company’s revenue was up 105.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. On average, equities analysts forecast that Silicon Motion Technology will post 7.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Wolf Hill Capital Management LP acquired a new stake in shares of Silicon Motion Technology during the fourth quarter valued at about $53,893,000. Hawk Ridge Capital Management LP grew its stake in shares of Silicon Motion Technology by 111.3% during the fourth quarter. Hawk Ridge Capital Management LP now owns 787,747 shares of the semiconductor producer’s stock valued at $73,024,000 after acquiring an additional 415,000 shares in the last quarter. Man Group plc grew its stake in shares of Silicon Motion Technology by 820.7% during the fourth quarter. Man Group plc now owns 381,048 shares of the semiconductor producer’s stock valued at $35,323,000 after acquiring an additional 339,663 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in shares of Silicon Motion Technology during the first quarter valued at about $22,458,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Silicon Motion Technology by 40.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 623,953 shares of the semiconductor producer’s stock valued at $57,840,000 after acquiring an additional 181,206 shares in the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

About Silicon Motion Technology

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company 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.