Silicon Motion Technology Corporation (NASDAQ:SIMO) Plans Quarterly Dividend of $0.57

Silicon Motion Technology Corporation (NASDAQ:SIMO) 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 dividend on an annualized basis 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 raised its dividend payment by an average of 0.1% annually over the last three years. Silicon Motion Technology has a dividend payout ratio of 52.5% meaning 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 Price Performance

SIMO stock opened at $187.90 on Tuesday. Silicon Motion Technology has a 1 year low of $79.76 and a 1 year high of $355.00. The firm has a market capitalization 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 50 day simple moving average of $247.43 and a 200-day simple moving average of $213.90.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Wednesday, October 28th. The semiconductor producer reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $1.05. The company had revenue of $560.22 million for the quarter, compared to analyst estimates of $529.10 million. Silicon Motion Technology had a return on equity of 34.05% and a net margin of 0.06%. The firm’s revenue for the quarter was up 131.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. On average, equities research analysts expect that Silicon Motion Technology will post 10.60 EPS for the current year.

Silicon Motion Technology Company Profile

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.