Silicon Motion Technology Co. (SIMO) To Go Ex-Dividend on February 13th

Silicon Motion Technology Co. (NASDAQ:SIMO) declared a quarterly dividend on Thursday, January 9th,NASDAQ Dividends reports. Stockholders of record on Thursday, February 13th will be given a dividend of 0.50 per share by the semiconductor producer on Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Thursday, February 13th.

Silicon Motion Technology has raised its dividend payment by an average of 8.9% annually over the last three years. Silicon Motion Technology has a payout ratio of 44.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Silicon Motion Technology to earn $4.56 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 43.9%.

Silicon Motion Technology Stock Up 0.9 %

NASDAQ:SIMO opened at $53.28 on Tuesday. Silicon Motion Technology has a 12 month low of $48.81 and a 12 month high of $85.87. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.34 and a beta of 0.79. The company’s 50 day moving average is $54.62 and its 200-day moving average is $57.23.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.59%. Research analysts predict that Silicon Motion Technology will post 2.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Susquehanna lowered their price objective on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Friday, November 1st. Craig Hallum lowered their price objective on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Silicon Motion Technology in a report on Monday, December 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Silicon Motion Technology in a report on Friday. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.63.

Silicon Motion Technology announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 5th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor producer to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.