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 (SIMO) is a semiconductor company focused on NAND flash controllers and SSD solutions, and it frequently issues news related to its storage controller portfolio, financial performance, and capital markets activity. The company describes itself as the global leader in supplying NAND flash controllers for solid state storage devices and reports that it ships more SSD controllers than any other company in the world for servers, PCs and other client devices. Its news flow reflects this position, with regular updates on product introductions, AI and enterprise storage initiatives, and embedded storage controllers for smartphones, IoT devices, automotive systems, and industrial applications.
On this page, readers can follow Silicon Motion’s announcements about quarterly financial results, earnings conference calls, and business outlook commentary. The company’s releases often detail trends in SSD controller sales, eMMC+UFS controller sales, and SSD solutions sales, as well as discussions of GAAP and non-GAAP metrics, dividend declarations, and share repurchase authorizations. These updates provide insight into how its storage controller business is performing across consumer, enterprise, automotive, industrial, and data center markets.
Silicon Motion also uses news releases to highlight new controller platforms and collaborations. Recent communications have described PCIe Gen5 enterprise SSD controllers, the MonTitan platform, and AI-focused storage solutions for hyperscale data centers and nearline SSDs, along with demonstrations at industry events and partnerships with server and storage vendors. Investors and industry watchers can use the SIMO news feed to track developments in its controller roadmap, participation in technology and investor conferences, and commentary on market conditions and risk factors.
For ongoing coverage of SIMO, this news page aggregates the company’s press releases and related updates so readers can monitor its storage controller business, product diversification, and strategic direction over time.
Silicon Motion (NASDAQ: SIMO) reported Q3 2024 financial results with net sales of $212.4 million, up 1% Q/Q and 23% Y/Y. The company's SSD controller sales were flat Q/Q but increased 20-25% Y/Y, while eMMC+UFS controller sales grew 0-5% Q/Q and 40-45% Y/Y. GAAP net income was $20.8 million with EPS of $0.62, down from $30.8 million and $0.91 in Q2. Non-GAAP net income was $31.0 million with EPS of $0.92. Gross margin improved to 46.7% GAAP and 46.8% non-GAAP. For Q4 2024, the company expects revenue between $191-202 million, representing a 10-5% Q/Q decline.
Silicon Motion Technology (SIMO) has announced an annual cash dividend of $2.00 per ADS, to be distributed in four quarterly installments of $0.50 per ADS. The payments are scheduled between November 2024 and August 2025, with specific record and payment dates announced. CEO Wallace Kou emphasized the company's strong business outlook and free cash flow generation capacity, highlighting their commitment to meaningful shareholder distributions. The dividend payments are subject to Board approval and compliance with applicable laws and agreements.
Silicon Motion Technology (NasdaqGS: SIMO) has announced preliminary third quarter 2024 financial results. The company expects sequential revenue growth to be above the midpoint of its original guidance range of $205 million to $216 million. Gross margin (non-GAAP) is anticipated to be in the upper half of the previously guided 46.0% to 47.0% range.
Silicon Motion will release its full Q3 2024 financial results on October 30, 2024, after market close. The company will host a conference call on October 31 at 8:00 a.m. Eastern Time. Participants must pre-register for the call, and the event will also be webcasted on the company's website.
Silicon Motion (SIMO) has unveiled the SM2508, a PCIe Gen5 NVMe 2.0 client SSD controller for AI PCs and gaming consoles. Key features include:
- First PCIe Gen5 client SSD controller using TSMC's 6nm EUV process
- 50% reduction in power consumption compared to 12nm process competitors
- Less than 7W power consumption for the entire SSD
- 1.7x better power efficiency than PCIe Gen4 SSDs
- Up to 70% better efficiency than current PCIe Gen5 offerings
- Supports 8 NAND channels with up to 3,600 MT/s per channel
- Sequential speeds up to 14.5 GB/s (read) and 13.6 GB/s (write)
- Random performance up to 2.5M IOPS
Production ramp of SM2508 is targeted for Q4 2024.
Silicon Motion Technology (SIMO) reported strong Q2 2024 financial results, with net sales increasing 11% Q/Q and 50% Y/Y to $210.7 million. The company saw growth across its product lines:
- SSD controller sales increased 25-30% Y/Y
- eMMC+UFS controller sales surged 190-195% Y/Y
- SSD solutions sales rose 20-25% Q/Q
Gross margin improved to 45.9% GAAP (46.0% non-GAAP). Net income reached $30.8 million or $0.91 per diluted ADS (GAAP). The company expects Q3 2024 revenue of $205-216 million, representing -2.5% to +2.5% Q/Q growth. For full year 2024, Silicon Motion projects revenue of $800-830 million, up 25-30% Y/Y.
Silicon Motion Technology (NasdaqGS: SIMO) has confirmed its quarterly cash dividend. The company, a global leader in NAND flash controllers for solid state storage devices, will pay $0.50 per ADS (equivalent to $0.125 per ordinary share) on August 22, 2024 to shareholders of record as of August 8, 2024. This payment is part of an annual dividend of $2.00 per ADS, distributed in four quarterly installments. The company's depository bank's DR Books will be closed for issuance and cancellation on August 8, 2024. Future dividends remain subject to the Board's determination of shareholder interests and compliance with applicable laws and agreements.
Silicon Motion Technology (NasdaqGS: SIMO) has announced its preliminary financial results for the second quarter of 2024. The company anticipates sequential revenue growth slightly above the high-end of the initial guidance range of $199 million to $208 million, issued on May 3, 2024.
Additionally, the non-GAAP gross margin is expected to be near the upper bound of the original guidance range of 45.0% to 46.0%. The official financial results will be released on August 1, 2024, after market close. A conference call to discuss these results is scheduled for August 2 at 8:00 a.m. Eastern Time, with pre-registration required for participation.
Silicon Motion (NasdaqGS: SIMO) has expanded its management team with three significant appointments: Dr. Jen-Tai Hsu as Vice President of Algorithm & Technology, Tao Cheng as Vice President of Manufacturing Operations, and Tom Sepenzis as Senior Director of Investor Relations & Strategy. These appointments aim to bolster the company's leadership in NAND flash controller technology and enhance its investor communications.
Dr. Hsu brings nearly 30 years of experience in analog/mixed-signal design and NAND storage research, having previously held pivotal roles at GUC, YMTC/XMC, and Intel. Tao Cheng, promoted from within, will leverage his extensive experience at MediaTek and TSMC to oversee worldwide manufacturing operations. Lastly, Tom Sepenzis, with over 20 years in technology analysis and investor relations, will drive Silicon Motion's investor outreach and strategic communication efforts.
Silicon Motion announced the launch of the SM770 USB display interface SoC, designed for USB docking stations to support up to three 4K UHD displays at 60Hz or one display at 144Hz. This product targets professionals, shared office users, and gamers, offering low latency and low power consumption. The SM770 leverages Silicon Motion's CAT technology to compress display data efficiently, reducing CPU load. It is compatible with Windows, macOS, Linux, Android, and ChromeOS, and features the InstantView software for easy display extension without a driver. The SM770 is now available for customer sampling.
Silicon Motion launched the SM2322, a high-performance single-chip controller for portable SSDs, supporting up to 8TB storage and achieving 20Gbps data transfer speed. The SM2322 is designed for high-density storage in AI devices and gaming consoles, providing low-cost, high-performance, and low-power solutions. It features USB 3.2 Gen 2x2 interface, peak read/write speeds of 2,100/2,000MB/s, and supports various OS including Windows, Android, and macOS. The controller enhances endurance and data retention using NANDXtend® technology, offers AES 256-bit encryption, and is TCG Opal compliant. Mass production is expected in mid-2024.
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