Silicon Motion Technology Corp. (SIMO) Declares $0.30 None Dividend

Silicon Motion Technology Corp. (NASDAQ:SIMO) declared a None dividend on Monday, January 8th, Zacks reports. Shareholders of record on Monday, February 12th will be given a dividend of 0.298 per share by the semiconductor producer on Tuesday, February 27th. This represents a yield of 2.12%. The ex-dividend date is Friday, February 9th.

Silicon Motion Technology (NASDAQ SIMO) opened at $50.70 on Tuesday. The company has a market capitalization of $1,790.00, a price-to-earnings ratio of 19.80 and a beta of 0.66. Silicon Motion Technology has a one year low of $37.37 and a one year high of $56.51.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Friday, October 27th. The semiconductor producer reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $127.20 million for the quarter, compared to analyst estimates of $127.24 million. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. The business’s revenue was down 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 earnings per share. equities research analysts anticipate that Silicon Motion Technology will post 2.31 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Silicon Motion Technology stock. State Street Corp boosted its stake in Silicon Motion Technology Corp. (NASDAQ:SIMO) by 10.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,417 shares of the semiconductor producer’s stock after purchasing an additional 3,509 shares during the quarter. State Street Corp owned about 0.10% of Silicon Motion Technology worth $1,757,000 as of its most recent SEC filing. 82.79% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on SIMO. Susquehanna Bancshares restated a “neutral” rating on shares of Silicon Motion Technology in a research report on Tuesday. UBS Group downgraded Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research report on Tuesday. Nomura downgraded Silicon Motion Technology from a “neutral” rating to a “reduce” rating and set a $45.00 target price for the company. in a research report on Wednesday, January 10th. Zacks Investment Research downgraded Silicon Motion Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Finally, B. Riley restated a “buy” rating and set a $68.75 target price on shares of Silicon Motion Technology in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $57.23.

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About Silicon Motion Technology

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

Dividend History for Silicon Motion Technology (NASDAQ:SIMO)

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