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

Silicon Motion Technology Co. (NASDAQ:SIMOGet Free Report) announced a quarterly dividend on Thursday, January 9th,NASDAQ Dividends reports. Investors of record on Thursday, February 13th will be given a dividend of 0.50 per share by the semiconductor producer on Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Thursday, February 13th.

Silicon Motion Technology has raised its dividend by an average of 8.9% annually over the last three years. Silicon Motion Technology has a dividend payout ratio of 44.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Silicon Motion Technology to earn $4.56 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 43.9%.

Silicon Motion Technology Stock Up 0.9 %

Shares of SIMO opened at $53.28 on Tuesday. Silicon Motion Technology has a fifty-two week low of $48.81 and a fifty-two week high of $85.87. The company’s fifty day moving average is $54.62 and its two-hundred day moving average is $57.23. The firm has a market cap of $1.79 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.34 and a beta of 0.79.

Silicon Motion Technology (NASDAQ:SIMOGet Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.59%. As a group, equities research analysts anticipate that Silicon Motion Technology will post 2.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Craig Hallum decreased their target price 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. Susquehanna dropped their target price on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Silicon Motion Technology in a report on Friday. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Silicon Motion Technology has a consensus rating of “Moderate Buy” and a consensus price target of $80.63.

View Our Latest Stock Analysis on Silicon Motion Technology

Silicon Motion Technology declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the semiconductor producer to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Silicon Motion Technology Company Profile

(Get Free Report)

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.

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Dividend History for Silicon Motion Technology (NASDAQ:SIMO)

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