Welcome to our dedicated page for Silicon Motion Technology news (Ticker: SIMO), a resource for investors and traders seeking the latest updates and insights on Silicon Motion Technology stock.
Silicon Motion Technology Corporation reports developments in NAND flash controllers and solid-state storage solutions. The company designs and markets SSD controllers for servers, PCs and client devices, eMMC and UFS embedded storage controllers for smartphones, IoT products and automotive applications, and customized SSD solutions for hyperscale data center, industrial and automotive uses.
Recurring SIMO news includes quarterly financial results, product-category sales trends for SSD controllers, eMMC+UFS controllers, and Ferri and boot-drive solutions, as well as ADS dividend confirmations. Company updates also cover enterprise PCIe NVMe controllers, MonTitan enterprise SSD controller solutions, Ferri embedded storage products, and controller technologies used in AI, cloud and data-center boot storage architectures.
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.
Silicon Motion Technology Corporation (SIMO) announced preliminary financial results for Q2 2021, projecting a 20% revenue growth sequentially, surpassing earlier guidance of 5% to 10%. Gross margin (non-GAAP) is expected to exceed the previous forecast of 48.0% to 50.0% by at least half a percentage point. The official financial results release is scheduled for July 29, 2021, with a conference call on July 30, 2021.
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.