Silicon Motion Technology Co. (NASDAQ:SIMO) to Issue Quarterly Dividend of $0.50

Silicon Motion Technology Co. (NASDAQ:SIMO) declared a quarterly dividend on Monday, January 13th,Wall Street Journal reports. Stockholders of record on Thursday, August 7th will be given a dividend of 0.50 per share by the semiconductor producer on Thursday, August 21st. This represents a $2.00 dividend on an annualized basis and a dividend 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% annually over the last three years. Silicon Motion Technology has a payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings. 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

NASDAQ SIMO opened at $52.96 on Monday. The company has a market capitalization of $1.78 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.61 and a beta of 0.80. Silicon Motion Technology has a one year low of $50.50 and a one year high of $85.87. The stock has a 50 day moving average price of $54.91 and a 200-day moving average price of $60.97.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. As a group, equities analysts predict that Silicon Motion Technology will post 2.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on SIMO shares. Susquehanna lowered their price target 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. Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Roth Mkm lowered their price target on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. StockNews.com upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Craig Hallum lowered their price target on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.