According to the Wall Street Journal, Silicon Motion Technology, Inc. (NASDAQ:SIMO – Get Free Report ) declared a quarterly dividend on Tuesday, July 16th. Shareholders of record on Thursday, August 8th will be paid a $0.50 dividend per share by the semiconductor manufacturer on Thursday, August 22nd. This equates to an annualized dividend of $2.00 and a dividend yield of 2.65%. The ex-dividend date for this dividend is Thursday, August 8th.
Silicon Motion Technology has cut its dividend by an average of 29.1% per year over the past three years. Silicon Motion Technology’s dividend payout ratio of 41.1% suggests that the dividend is well covered by earnings. Research analysts expect Silicon Motion Technology to earn $4.25 per share next year, which means the company will be able to continue covering its dividend of $2.00 per year, giving the company a future forecast dividend payout ratio of 47.1%.
Silicon Motion Technology shares fell 5.2%
NASDAQ:SIMO opened trading at $75.50 on Thursday. The company’s 50-day moving average price is $80.04 and its 200-day moving average price is $73.89. Silicon Motion Technology has a 12-month low of $49.50 and a 12-month high of $95.33. The company has a market cap of $2.54 billion, a P/E ratio of 42.90, a PEG ratio of 0.74 and a beta of 0.86.
Silicon Motion Technology (NASDAQ:SIMO – Get free report ) announced its quarterly earnings on Thursday, May 2nd. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, beating the market’s consensus of $0.41 by $0.07. Silicon Motion Technology had an ROE of 7.78% and a net margin of 8.34%. The company’s quarterly revenues of $189.31 million beat analyst expectations of $180.23 million. On average, equities research analysts expect Silicon Motion Technology to post EPS of $2.83 for the current fiscal year.
Analyst upgrades and downgrades
Several stock analysts have recently commented on the company. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Morgan Stanley raised Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $59.00 to $88.00 in a report on Monday, May 6th. Susquehanna raised their price target for Silicon Motion Technology from $100.00 to $110.00 and gave the company a “positive” rating in a report on Monday, May 6th. Wedbush reverted shares of Silicon Motion Technology to an “outperform” rating and set a $85.00 price target in a report on Friday, May 3rd. Finally, Needham & Company LLC increased their price target on Silicon Motion Technology from $85.00 to $94.00 and gave the company a “buy” rating in a report on Monday, July 8. Nine analysts have rated the stock with a buy rating, giving the company a consensus rating of “buy” and a consensus target price of $93.13, based on MarketBeat data.
Read the latest report on Silicon Motion Technology
Silicon Motion Technology Company Profile
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Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops and sells NAND Flash controllers for solid-state storage devices. The company provides controllers for computing-grade solid-state drives (SSDs) used in PCs and other client devices, enterprise-grade SSDs used in data centers, eMMC and UFS mobile embedded storage used in smartphones and IoT devices, flash memory cards and flash drives used in expandable storage, and specialty SSDs used in industrial, commercial and automotive applications.
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