Silicon Motion Technology Corporation (SIMO) to Distribute Quarterly Dividend of $0.57 on November 19th

Silicon Motion Technology Corporation (NASDAQ:SIMO) announced a quarterly dividend on Friday, October 16th. Investors of record on Thursday, November 5th will be given a dividend of $0.5750 per share by the semiconductor producer on Thursday, November 19th. This represents a $2.30 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend 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 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 Trading Down 9.9%

Shares of NASDAQ SIMO opened at $187.90 on Tuesday. Silicon Motion Technology has a 12-month low of $79.76 and a 12-month high of $355.00. The stock’s fifty day simple moving average is $247.43 and its two-hundred day simple moving average is $213.90. The stock has a market capitalization of $6.37 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 0.39 and a beta of 1.69.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CenterBook Partners LP boosted its stake in shares of Silicon Motion Technology by 20.7% in the third quarter. CenterBook Partners LP now owns 7,930 shares of the semiconductor producer’s stock valued at $2,220,000 after purchasing an additional 1,361 shares during the period. Kestra Advisory Services LLC lifted its holdings in Silicon Motion Technology by 14.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 1,848 shares of the semiconductor producer’s stock worth $517,000 after buying an additional 232 shares in the last quarter. AIGH Capital Management LLC boosted its position in Silicon Motion Technology by 13.9% in the 3rd quarter. AIGH Capital Management LLC now owns 164,000 shares of the semiconductor producer’s stock valued at $45,920,000 after buying an additional 20,000 shares during the period. Kestra Private Wealth Services LLC acquired a new position in shares of Silicon Motion Technology in the third quarter worth $228,000. Finally, Covestor Ltd grew its stake in shares of Silicon Motion Technology by 34.1% in the third quarter. Covestor Ltd now owns 1,243 shares of the semiconductor producer’s stock worth $348,000 after acquiring an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

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.