Silicon Motion Technology Corp Stock Price, News & Analysis

Silicon Motion Technology Corporation (SIMO) reported preliminary fourth quarter results indicating a sequential revenue growth in the upper half of its previous guidance of 0% to 5%. Additionally, the non-GAAP gross margin is expected to fall within the upper half of its guidance range of 48.5% to 50.5%. The final financial results will be released on January 26, 2022, followed by a conference call on January 27, 2022, at 8:00 a.m. ET. This positive outlook reflects the company's strong position in the NAND flash controller market.

Silicon Motion Technology Corporation (SIMO) has authorized a new share repurchase program to buy back up to $200 million of its American Depositary Shares (ADSs) within the next six months. This decision follows a 43% increase in its annual dividend announced on October 25. The company, holding approximately $419.5 million in cash and equivalents, reassures investors by reaffirming its fourth quarter financial guidance. The repurchases will be conducted in open markets and will depend on market conditions.

Silicon Motion Technology Corporation (NASDAQ-GS: SIMO) announced its participation in the Open Compute Project (OCP) Global Summit from November 8-10, 2021, showcasing innovative SSD controllers and storage solutions. The company will introduce enterprise-grade controllers, including PCIe Gen5 NVMe platforms, designed for optimal performance and cost-efficiency in data center applications. Silicon Motion's products are aligned with OCP Cloud SSD specifications, emphasizing reliability and error correction technology, which positions the company favorably in the competitive storage market.

Silicon Motion Technology Corporation (SIMO) reported a record third quarter for 2021, achieving net sales of $254.2 million, reflecting a 15% increase quarter-over-quarter and a 102% rise year-over-year. Net income rose to $55.4 million or $1.58 per diluted ADS. The company reached a $1 billion revenue run-rate, a quarter ahead of schedule, driven by strong sales of eMMC+UFS controllers. Gross margin was 50.0%, while operating expenses increased to $58.3 million. A $2.00 annual dividend was declared, marking a 43% increase from the previous year.

Silicon Motion Technology Corporation (NASDAQ: SIMO) has announced an annual cash dividend of $2.00 per ADS, marking a 43% increase from the previous year’s $1.40. This dividend will be paid in four quarterly installments of $0.50 each. Record and payment dates for the dividends are set from November 2021 to August 2022. The decision results from strong financial performance and favorable business outlook, as stated by CEO Wallace Kou. Future dividends will depend on the Board’s assessment of shareholder interests and legal compliance.

Silicon Motion Technology Corporation (NASDAQ: SIMO) reports preliminary third quarter results indicating that revenue growth will slightly exceed the high-end of its original guidance of 7.5% to 12.5%. Gross margin (non-GAAP) is expected to surpass 50%, aligning with the upper end of prior guidance of 48.5% to 50.5%. The company plans to release its full financial results on October 27, 2021, followed by a conference call on October 28, 2021.

Silicon Motion Technology Corporation (Nasdaq: SIMO) has launched the SM2320, a new single-chip controller designed for external portable SSDs. This controller, aimed at enhancing performance for game consoles and laptops, offers read/write speeds of up to 2,100/2,000 MB/s while using a USB 3.2 Gen 2 interface. The SM2320 can support up to 4TB of storage and includes advanced security features like AES 256-bit encryption. Customers, including Kingston Technology with its XS2000 SSD, are expected to benefit from reduced PCB size and lower manufacturing costs.

Silicon Motion Technology Corporation (SIMO) reported strong financial results for Q2 2021, achieving net sales of $221.1 million, a 21% sequential increase and a 62% year-over-year rise. Net income reached $49.5 million, or $1.42 per diluted ADS (GAAP), marking significant growth from the previous quarter. Both SSD and eMMC+UFS controller sales hit record highs, with SSD controller sales up 30% quarter-over-quarter. The company has also updated its revenue guidance for the full year, projecting between $890 million and $917 million. Gross margin stood at 50.3% and operating margin at 27.3%.

Silicon Motion Technology Corporation (SIMO) announced a quarterly cash dividend of $0.35 per ADS, with the next payment scheduled for August 19, 2021. This is part of an annual dividend of $1.40 per ADS, equating to $0.35 per ordinary share, to be paid in four installments. The company emphasizes that future dividend payments depend on the Board's assessment of shareholder interests and compliance with applicable laws.