Silicon Motion Technology Corp Stock Price, News & Analysis

Silicon Motion Technology Corporation (NasdaqGS: SIMO) reported record revenue of $182.4 million for Q1 2021, marking a 27% sequential and 37% year-over-year increase. Net income rose to $34.4 million or $0.98 per diluted ADS, a significant improvement from the previous quarter. Key sales drivers included SSD and eMMC+UFS controllers, both achieving record highs. However, SSD solutions sales saw a 40% to 45% decline year-over-year. The company expects revenue for Q2 2021 between $192 million to $201 million, reflecting a 5% to 10% increase quarter-over-quarter.

Silicon Motion Technology Corporation (NASDAQ: SIMO) has confirmed its quarterly cash dividend of $0.35 per ADS, equivalent to $0.0875 per ordinary share, as part of an annual dividend of $1.40 per ADS declared on October 26, 2020. The upcoming payment date is set for May 20, 2021, with a record date of May 6, 2021. This decision is subject to the Board's assessment of shareholder interests and compliance with applicable laws and agreements.

Silicon Motion Technology Corporation (NASDAQ: SIMO) announced preliminary results for Q1 2021, projecting a 25% sequential revenue growth, outperforming its prior guidance of 7% to 12%. The company expects gross margin (non-GAAP) to be at the high-end of its guidance range of 48.0% to 50.0%. The final financial results will be disclosed on May 5, 2021, followed by a conference call on May 6. This significant growth reflects strong demand for NAND flash controllers amid ongoing market dynamics.

Silicon Motion Technology Corporation (NasdaqGS: SIMO) has announced the launch of its SM2708 SD Express controller, which supports the new SD 8.0 specification and is backward compatible with SD 7.1. This controller is designed to enhance performance for applications requiring high data speeds, such as 8K video capture and automotive storage. Featuring PCIe Gen 3 x2 interface and NVMe 1.3, the SM2708 can achieve nearly triple the throughput. Key features include support for the latest 3D NAND, proprietary NANDXtend® ECC technology, and low power consumption under 1.5mW.

Silicon Motion Technology Corporation (SIMO) reported Q4 2020 net sales of $143.9 million, up 14% QoQ but down 6% YoY. GAAP net income fell to $1.4 million ($0.04 per diluted ADS), while non-GAAP net income rose to $29.9 million ($0.86 per diluted ADS). SSD controller sales rose 5%-10% QoQ, with eMMC+UFS controllers up 65%-70% QoQ. However, SSD solutions dropped 30%-35% QoQ. For Q1 2021, revenue is expected between $154 million and $161 million, reflecting robust demand amid supply constraints. The company also declared a $1.40 annual dividend, reinforcing its commitment to returning value to shareholders.

Silicon Motion Technology Corporation (NASDAQ: SIMO) has declared a quarterly cash dividend of $0.35 per ADS, equivalent to $0.0875 per ordinary share. This payment is part of an annual dividend of $1.40 per ADS, distributed in four installments. The next payment is scheduled for February 26, 2021, to shareholders on record as of February 16, 2021. The Board of Directors will continually assess future dividends based on shareholder interests and legal compliance.

Silicon Motion Technology Corporation (SIMO) announced preliminary fourth quarter results, indicating revenue to exceed initial guidance by approximately 3%, reaching over $139 million. The non-GAAP gross margin is projected to be around the midpoint of 48-50%. The official financial results will be disclosed on February 3, 2021, followed by a conference call on February 4. As a leading supplier of NAND flash controllers, the company continues to assert its strong market position.

On November 17, 2020, Silicon Motion Technology Corporation (NASDAQ: SIMO) announced the launch of the SM8266, a 16-channel PCIe 4.0 NVMe turnkey SSD controller solution aimed at enterprise markets. This comprehensive platform allows customers to quickly develop enterprise SSDs for data centers, featuring a complete NVMe firmware stack and hardware reference design kit. The SM8266 supports up to 16TB of capacity and advanced features such as 6th generation NANDXtend technology, end-to-end data path protection, and AES 256-bit security. Production for customized designs is expected in 2021.

Silicon Motion Technology Corporation (SIMO) reported its Q3 2020 results, revealing net sales of $126.0 million, an 8% decline from Q2 but up 14% YoY. Gross margin remained stable at 49.1%. SSD controller sales surged by approximately 20% Q/Q and Y/Y, while eMMC+UFS controller sales plummeted by 50% Q/Q. The company repurchased $25 million of its ADSs. Looking ahead, Q4 revenue is anticipated between $130 million to $139 million. Management cites expected recovery in SSD controller sales and a rebound in eMMC+UFS controllers as positive signs for future performance.