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

Silicon Motion Technology Co. (NASDAQ:SIMO) declared a quarterly dividend on Monday, January 13th,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 dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, August 7th.

Silicon Motion Technology has increased its dividend payment by an average of 8.9% per year over the last three years. Silicon Motion Technology has a payout ratio of 39.0% indicating that 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 Price Performance

NASDAQ SIMO opened at $51.90 on Tuesday. The company has a fifty day moving average price of $54.90 and a 200-day moving average price of $60.77. Silicon Motion Technology has a 1 year low of $50.50 and a 1 year high of $85.87. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.61 and a beta of 0.80.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly 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 company 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%. Silicon Motion Technology’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. On average, research analysts anticipate that Silicon Motion Technology will post 2.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Needham & Company LLC dropped their price objective on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Morgan Stanley dropped their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Susquehanna decreased their price target on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st. Roth Mkm cut their target price on shares of 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. Finally, Craig Hallum reduced their target price on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Silicon Motion Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Silicon Motion Technology Company Profile

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.