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

Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) announced 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 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, August 7th.

Silicon Motion Technology has raised its dividend by an average of 8.9% annually over the last three years. Silicon Motion Technology has a 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 2.0 %

Shares of NASDAQ SIMO traded down $1.06 during mid-day trading on Monday, reaching $51.90. 262,795 shares of the company were exchanged, compared to its average volume of 206,114. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 1.61 and a beta of 0.80. Silicon Motion Technology has a 1 year low of $50.50 and a 1 year high of $85.87. The firm has a 50-day moving average of $54.91 and a 200 day moving average of $60.97.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.07. The firm had revenue of $212.40 million during the quarter, compared to analysts' expectations of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The firm's quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. On average, equities analysts forecast that Silicon Motion Technology will post 2.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Silicon Motion Technology from $78.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, September 16th. StockNews.com upgraded Silicon Motion Technology from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Wedbush reiterated an "outperform" rating and issued a $90.00 price target on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Craig Hallum decreased their price target on Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Finally, Roth Mkm decreased their price target on Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.