Silicon Motion Technology Corporation (NASDAQ:SIMO) Increases Dividend to $0.57 Per Share

Silicon Motion Technology Corporation (NASDAQ:SIMO) declared a quarterly dividend on Friday, October 16th. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.5750 per share by the semiconductor producer on Thursday, November 19th. This represents a $2.30 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, November 5th. This is a 15.0% increase from Silicon Motion Technology’s previous quarterly dividend of $0.50.

Silicon Motion Technology has increased its dividend payment by an average of 0.1% annually over the last three years. Silicon Motion Technology has a dividend payout ratio of 52.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Silicon Motion Technology to earn $15.58 per share next year, which means the company should continue to be able to cover its $2.29 annual dividend with an expected future payout ratio of 14.7%.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock opened at $187.90 on Tuesday. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 0.39 and a beta of 1.69. Silicon Motion Technology has a 52-week low of $79.76 and a 52-week high of $355.00. The stock’s 50 day moving average price is $247.43 and its two-hundred day moving average price is $213.90.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Wednesday, October 28th. The semiconductor producer reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.30 by $1.05. The company had revenue of $560.22 million during the quarter, compared to analyst estimates of $529.10 million. Silicon Motion Technology had a net margin of 0.06% and a return on equity of 34.05%. Silicon Motion Technology’s revenue for the quarter was up 131.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 EPS. On average, equities research analysts forecast that Silicon Motion Technology will post 10.60 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Kornitzer Capital Management Inc. KS bought a new position in Silicon Motion Technology in the 1st quarter valued at $4,827,000. Schwartz Investment Counsel Inc. raised its stake in shares of Silicon Motion Technology by 36.4% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 300,000 shares of the semiconductor producer’s stock worth $33,687,000 after purchasing an additional 80,000 shares during the period. AIGH Capital Management LLC bought a new stake in shares of Silicon Motion Technology during the 1st quarter worth $22,458,000. Calamos Advisors LLC bought a new stake in shares of Silicon Motion Technology during the 1st quarter worth $2,686,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Silicon Motion Technology in the 1st quarter worth about $496,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company that designs, develops and markets NAND flash storage controllers. Its products manage the storage, performance, reliability and power consumption of data stored in NAND flash memory and are used in a range of consumer, mobile, computing and industrial applications.

The company’s product portfolio includes controllers for solid-state drives (SSDs), embedded storage products such as eMMC and UFS devices, and other flash-based storage solutions.