Silicon Motion Technology Co. (SIMO) to Issue Quarterly Dividend of $0.50 on August 21st

Silicon Motion Technology Co. (NASDAQ:SIMO) announced 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 3.97%. The ex-dividend date is Thursday, August 7th.

Silicon Motion Technology has increased its dividend payment by an average of 8.9% annually over the last three years. Silicon Motion Technology has a dividend 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 Down 2.8 %

NASDAQ:SIMO opened at $50.43 on Wednesday. The company has a market capitalization of $1.70 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. The stock has a fifty day simple moving average of $54.83 and a 200-day simple moving average of $60.55. Silicon Motion Technology has a 52-week low of $48.81 and a 52-week high of $85.87.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on SIMO shares. Needham & Company LLC lowered their target price on shares of 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. Roth Mkm decreased their target price on shares of 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. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Susquehanna lowered their price objective on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Friday, November 1st. 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 equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat, Silicon Motion Technology presently has a consensus 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.