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 (SIMO) has announced a new $50 million share repurchase program for its American Depositary Shares (ADSs) over a six-month period. The company reported significant top-and-bottom-line growth in fiscal year 2024, attributing success to their market share expansion and product portfolio diversification strategy.
The repurchases will be conducted in the open market following Rule 10b-18 safe harbor provisions. The program will be funded using the company's cash reserves, which stood at approximately $334.3 million in cash, cash equivalents, restricted cash, and short-term investments as of December 31, 2024.
CEO Wallace Kou expressed confidence in the company's long-term opportunities, highlighting their entry into the enterprise market with the MonTitan platform and expansion into automotive, IoT, gaming, wearables, and other emerging growth markets.
Silicon Motion (NASDAQ: SIMO) reported Q4 2024 financial results with net sales of $191.2 million, down 10% Q/Q and 6% Y/Y. The company experienced declines across its product lines: SSD controller sales decreased 5-10% Q/Q and Y/Y, eMMC+UFS controller sales fell 10-15% Q/Q but remained flat Y/Y, and SSD solutions sales dropped 35-40% Q/Q and 25-30% Y/Y.
For full-year 2024, net sales grew 26% Y/Y to $803.6 million, with non-GAAP gross margin improving to 46.2% from 43.0% in 2023. The company announced an annual cash dividend of $2.00 per ADS.
Looking ahead, Silicon Motion expects Q1 2025 revenue between $158-167 million, representing a 12.5-17.5% Q/Q decline. Despite challenging consumer market conditions in early 2025, the company anticipates a strong rebound in the second half driven by new product introductions and OEM customer wins, targeting an annual revenue run-rate of $1 billion by Q4 2025.
Silicon Motion Technology (NASDAQ: SIMO) has confirmed its quarterly cash dividend payment. The company's Board of Directors previously declared an annual dividend of US$2.00 per ADS (equivalent to US$0.50 per ordinary share) on October 28, 2024, to be distributed in four quarterly installments of $0.50 per ADS (US$0.125 per ordinary share).
The next quarterly dividend payment is scheduled for February 27, 2025, with a record date of February 13, 2025. The depository bank's DR Books will be closed for issuance and cancellation on February 13, 2025. Future dividend payments remain subject to Board approval and compliance with applicable laws and agreements.
Silicon Motion Technology (NasdaqGS: SIMO), a global leader in NAND flash controllers for solid state storage devices, announced its preliminary fourth quarter 2024 financial results. The company expects revenue to be at the low end of its original guidance range of $191 million to $202 million, issued on October 31, 2024. The gross margin (non-GAAP) is anticipated to be near the mid-point of the original 46.5% to 47.5% guidance range.
Silicon Motion will release its full fourth quarter 2024 financial results after the market closes on February 5, 2025, and will host a conference call on February 6 at 8:00 a.m. Eastern Time.
Participants must pre-register using the provided link to join the live call. The call will also be webcasted on the company’s website.
Silicon Motion Technology (SIMO) has achieved ISO 26262 ASIL B Ready and ASPICE CL2 certifications for its automotive storage solutions. This milestone reinforces the company's position in delivering high-standard automotive-grade storage solutions, particularly for electric vehicles (EVs) and autonomous driving technologies.
The company's NAND Flash controller technologies and firmware are designed to meet strict safety and reliability standards for automotive applications. With over 20 years of expertise, Silicon Motion's automotive-grade products comply with multiple international standards, including AEC-Q100, IATF 16949, ISO 26262, and ASPICE. Their product range includes SSD controllers and Ferri-embedded storage products designed for safer and smarter vehicles.
Silicon Motion Technology (SIMO) has appointed Jason Tsai as permanent Chief Financial Officer, effective October 28, 2024. Tsai, who has been serving as Interim CFO since April 25, 2024, was selected after a six-month search process. With over 25 years of finance leadership experience in semiconductor, hardware, and software sectors, Tsai previously held positions at Zendesk and Synaptics. CEO Wallace Kou highlighted Tsai's contributions to the finance team and his deep understanding of the company's business, customers, and industry as key factors in the appointment.
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.