Silicon Motion Technology Co. (SIMO) To Go Ex-Dividend on May 8th

Silicon Motion Technology Co. (NASDAQ:SIMO) announced a quarterly dividend on Sunday, May 5th, Wall Street Journal reports. Stockholders of record on Thursday, May 9th will be given a dividend of 0.50 per share by the semiconductor producer on Thursday, May 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Wednesday, May 8th.

Silicon Motion Technology has decreased its dividend payment by an average of 29.1% annually over the last three years. Silicon Motion Technology has a payout ratio of 42.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Silicon Motion Technology to earn $4.03 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 49.6%.

Silicon Motion Technology Stock Up 0.8 %

SIMO opened at $73.96 on Monday. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 42.02, a P/E/G ratio of 3.98 and a beta of 0.87. Silicon Motion Technology has a twelve month low of $49.50 and a twelve month high of $95.33. The company has a 50-day simple moving average of $74.63 and a 200 day simple moving average of $65.79.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.51 by $0.12. The business had revenue of $202.38 million during the quarter, compared to the consensus estimate of $197.60 million. Silicon Motion Technology had a net margin of 8.34% and a return on equity of 7.77%. Sell-side analysts anticipate that Silicon Motion Technology will post 2.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Friday. Wedbush reaffirmed an “outperform” rating and set a $85.00 price target on shares of Silicon Motion Technology in a research note on Friday. Needham & Company LLC boosted their price objective on shares of Silicon Motion Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Craig Hallum raised their target price on Silicon Motion Technology from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Silicon Motion Technology currently has a consensus rating of “Buy” and an average target price of $87.57.

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.