Silicon Motion Technology Corp Stock Price, News & Analysis

Silicon Motion Technology Corporation (NASDAQ: SIMO) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act regarding its acquisition by MaxLinear, Inc. (NASDAQ: MXL). Each American Depositary Share (ADS) will receive $93.54 in cash and 0.388 shares of MaxLinear common stock, while each ordinary share will receive $23.385 in cash and 0.097 shares of common stock. Closing is contingent on shareholder approval and regulatory approval from China.

Silicon Motion Technology Corporation (NasdaqGS: SIMO) announced its participation in the Automotive Technologies Virtual Conference on May 12, 2022. The company's automotive project manager will deliver a webinar on "Advanced Storage Solutions for Automotive Applications," focusing on high-performance storage solutions designed for the evolving automotive market. Silicon Motion's automotive products include AEC-Q100 Grade 2/3 controllers and single-chip solutions for in-vehicle infotainment, navigation, and autonomous driving, emphasizing performance, reliability, and safety.

Silicon Motion Technology Corporation (SIMO) reported Q1 2022 net sales of $242 million, down 8% quarter-over-quarter but up 33% year-over-year. Gross margin was 52.1%, exceeding expectations. SSD controller sales fell 15-20% Q/Q but rose 25-30% Y/Y. The company repurchased $100 million in ADSs, returning $150 million to shareholders since the program's inception. Despite operational challenges, the CEO expressed optimism about growth prospects, particularly in PCIe Gen 4 and Gen 5 controllers and expanding OEM pipelines.

MaxLinear, Inc. (MXL) has announced its acquisition of Silicon Motion (SIMO) in a deal valued at $3.8 billion. This cash and stock transaction provides SIMO shareholders with $93.54 in cash and 0.388 shares of MXL per ADS, representing a 48% premium. The merger creates a semiconductor company with over $2 billion in annual revenue and expands MXL's total addressable market to $15 billion. The combined entity is expected to generate $100 million in annual synergies and enhance operating income, margin, and cash flows, leveraging technologies across various growth sectors.

Silicon Motion Technology Corporation (SIMO) has confirmed its quarterly cash dividend of US$0.50 per ADS, equivalent to US$0.125 per ordinary share. This dividend is part of an annual dividend of US$2.00 per ADS, declared on October 25, 2021. The next installment will be paid on May 26, 2022, to shareholders on record as of May 12, 2022. Future dividend payments are subject to the Board’s determination that they are in the best interests of shareholders and compliant with applicable laws.

Silicon Motion Technology Corporation (SIMO) has announced preliminary results for Q1 2022, projecting revenue growth slightly above its original guidance of $225 million to $238 million. Expected gross margin (non-GAAP) stands at around 52%, exceeding the prior estimate of 49.5% to 51.5%. The official financial results will be released on May 4, followed by a conference call on May 5, 2022, at 8:00 a.m. ET.

Silicon Motion Technology Corporation (SIMO) reported its 4Q 2021 financial results, with net sales reaching $264.4 million, a 4% increase quarter-over-quarter and a 84% rise year-over-year. The company achieved a full-year revenue of $922.1 million, up 71% year-over-year. Fourth-quarter earnings per diluted ADS were $1.73 (GAAP) and $1.90 (non-GAAP). Notably, SSD controller sales hit a record high, increasing 15%-20% quarter-over-quarter. The Board declared a 43% increase in annual dividends to $2.00 per ADS and announced a new $200 million share repurchase program.

Silicon Motion Technology Corporation (SIMO) has confirmed its quarterly cash dividend of US$0.50 per ADS, scheduled for payment on February 25, 2022, to record shareholders as of February 14, 2022. This dividend is part of an annual distribution of US$2.00 per ADS, equivalent to US$0.50 per ordinary share, paid in four installments. The payment of future dividends will depend on the Board's assessment of the Company's interests and compliance with applicable laws.

Unison has strengthened its executive team with the appointment of Ryan Downs as President and Scott Case as Chief Financial Officer. With over $1.2 billion in assets under management and investments in nearly 8,000 homes, Unison aims to enhance its position in the residential equity agreement market. Downs brings a decade of leadership from Proxibid, while Case offers over 25 years of experience, including pivotal roles at Silicon Valley Bank. Their expertise is expected to drive growth and expand the company's reach into a broader market.