Silicon Motion Technology Co. (SIMO) To Go Ex-Dividend on August 7th

Silicon Motion Technology Co. (NASDAQ:SIMO) declared a quarterly dividend on Friday, January 10th,Wall Street Journal reports. Investors of record on Thursday, August 7th will be paid a dividend of 0.50 per share by the semiconductor producer on Thursday, August 21st. This represents a $2.00 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, August 7th.

Silicon Motion Technology has increased its dividend by an average of 8.9% per year over the last three years. Silicon Motion Technology has a payout ratio of 39.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Silicon Motion Technology to earn $2.99 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 66.9%.

Silicon Motion Technology Stock Performance

Shares of NASDAQ:SIMO opened at $52.96 on Friday. Silicon Motion Technology has a 1-year low of $50.50 and a 1-year high of $85.87. The company’s fifty day moving average is $54.91 and its two-hundred day moving average is $61.10. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $212.40 million for the quarter, compared to analysts’ expectations of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. Silicon Motion Technology’s revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. Sell-side analysts expect that Silicon Motion Technology will post 2.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on SIMO shares. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a report on Monday, December 23rd. Needham & Company LLC dropped their price target on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Susquehanna reduced their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Friday, November 1st. Roth Mkm lowered their target price on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Finally, Morgan Stanley decreased their price target on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.67.

About Silicon Motion Technology

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.