Welcome to our dedicated page for Silicon Motion Technology Corporation news (Ticker: SIMO), a resource for investors and traders seeking the latest updates and insights on Silicon Motion Technology Corporation stock.
Silicon Motion Technology Corporation (NASDAQ: SIMO) is a global leader in the design and marketing of NAND flash controllers for solid-state storage devices. Established as a major player in the semiconductor industry, Silicon Motion focuses on developing microcontroller ICs for NAND flash storage devices and specialty RF ICs for mobile devices. The company’s products are integral to numerous smartphones and mobile devices from leading manufacturers.
Silicon Motion is renowned for its innovative solutions in managing advanced process geometry NAND flash and the latest generation TLC (3-bits per cell) flash. They are a leader in eMMC controllers for smartphones and tablets, as well as in memory card and USB flash drive controllers. The company is also expanding its focus on client SSD controllers for notebook PCs and other applications.
Notably, Silicon Motion supplies more SSD controllers than any other company worldwide for client devices, servers, and PCs. They are also the leading merchant supplier of eMMC and UFS embedded storage controllers used in smartphones, IoT devices, and other applications. Their customer base includes major NAND flash vendors, storage device module makers, and leading OEMs.
Recent Achievements and Developments
- Launched the SM2322 controller for high-performance, low-power external portable SSDs, supporting up to 8TB of storage with 20Gbps data transfer speeds.
- Introduced the SM770 USB display interface SoC, supporting up to three concurrent 4K UHD displays, designed for USB docking stations.
- Released the UFS 4.0 controller (SM2756) and second-generation UFS 3.1 controller (SM2753), providing cutting-edge solutions for AI-powered smartphones and high-performance applications like automotive and edge computing.
- Announced key leadership changes, with Jason Tsai appointed as Interim Chief Financial Officer.
- Continuing advancements in highly differentiated controller solutions for PC and smartphone OEMs, targeting AI-at-the-edge applications.
Silicon Motion's financial performance remains robust, with significant investments in capital expenditures, including routine purchases of testing equipment and building construction in Hsinchu. The company also maintains a positive outlook for continued scalability and profitability in its new SSD and eMMC+UFS controller programs.
Silicon Motion Technology Corporation (SIMO) announced preliminary fourth quarter results, indicating revenue to exceed initial guidance by approximately 3%, reaching over $139 million. The non-GAAP gross margin is projected to be around the midpoint of 48-50%. The official financial results will be disclosed on February 3, 2021, followed by a conference call on February 4. As a leading supplier of NAND flash controllers, the company continues to assert its strong market position.
On November 17, 2020, Silicon Motion Technology Corporation (NASDAQ: SIMO) announced the launch of the SM8266, a 16-channel PCIe 4.0 NVMe turnkey SSD controller solution aimed at enterprise markets. This comprehensive platform allows customers to quickly develop enterprise SSDs for data centers, featuring a complete NVMe firmware stack and hardware reference design kit. The SM8266 supports up to 16TB of capacity and advanced features such as 6th generation NANDXtend technology, end-to-end data path protection, and AES 256-bit security. Production for customized designs is expected in 2021.
Silicon Motion Technology Corporation (SIMO) reported its Q3 2020 results, revealing net sales of $126.0 million, an 8% decline from Q2 but up 14% YoY. Gross margin remained stable at 49.1%. SSD controller sales surged by approximately 20% Q/Q and Y/Y, while eMMC+UFS controller sales plummeted by 50% Q/Q. The company repurchased $25 million of its ADSs. Looking ahead, Q4 revenue is anticipated between $130 million to $139 million. Management cites expected recovery in SSD controller sales and a rebound in eMMC+UFS controllers as positive signs for future performance.
Silicon Motion Technology Corporation (NasdaqGS: SIMO) announced the extension of its $200 million share repurchase program for an additional year, now expiring on November 21, 2021. As of Q3 2020, it has repurchased 2.4 million ADSs, representing approximately 7% of total shares outstanding, with $115.2 million remaining. CEO Wallace Kou emphasized this buyback as part of their strategy to return capital to shareholders, suggesting confidence in the company's valuation and future prospects.
Silicon Motion Technology Corporation (NasdaqGS: SIMO) has announced an annual cash dividend of $1.40 per ADS, equating to quarterly payments of $0.35 per ADS. The record and payment dates are set for November 12, 2020, February 16, May 6, and August 5, 2021, with payment dates following shortly after. CEO Wallace Kou expressed confidence in the company’s ability to generate free cash flow, stating the dividend distribution reflects solid business prospects.
Silicon Motion Technology Corporation (NasdaqGS: SIMO) announced a new range of PCIe 4.0 NVMe 1.4 controllers designed for performance, mainstream, and value SSD applications. The new controllers include the SM2264, SM2267, and SM2267XT, catering to different market segments. The SM2264 targets high-performance and automotive SSDs with speeds up to 7,400 MB/s, while SM2267 and SM2267XT, designed for mainstream and value SSDs, support speeds of 3,900 MB/s and are now in volume production. The technology optimizes for low power consumption and robust error correction, aligning with the growing demand for Gen4 SSDs.
Silicon Motion Technology Corporation (SIMO) announced that its preliminary third quarter revenue is expected to exceed the prior guidance of $114 million to $120 million by approximately 5%. Gross margin (non-GAAP) is projected to align close to the mid-point of the previously set range of 48.0% to 50.0%. The financial results will be officially released on November 2, 2020, followed by a conference call on November 3, 2020, where CEO Wallace Kou and CFO Riyadh Lai will discuss the figures.
Silicon Motion Technology Corporation (SIMO) reported Q2 2020 net sales of $136.8 million, reflecting a 3% increase QoQ and a 38% increase YoY. GAAP net income rose to $28.2 million ($0.80 per diluted ADS), up from $25.9 million in Q1. Non-GAAP net income was $28.6 million ($0.81 per diluted ADS). However, SSD controller sales saw a 5% decline QoQ while eMMC+UFS controller sales surged by 30% QoQ. Looking ahead, Q3 sales are expected to face challenges due to inventory adjustments, with projected revenues between $114 million and $120 million.
Silicon Motion Technology Corporation (NASDAQ: SIMO) announced its quarterly cash dividend, reaffirming an annual dividend of US$1.40 per ADS, translating to US$0.35 per ordinary share. The next quarterly payment of $0.35 per ADS is scheduled for August 20, 2020, for shareholders on record as of August 6, 2020. The board emphasizes that future dividend payments depend on ongoing assessments aligning with shareholders’ best interests and compliance with applicable laws.
FAQ
What is the current stock price of Silicon Motion Technology Corporation (SIMO)?
What is the market cap of Silicon Motion Technology Corporation (SIMO)?
What does Silicon Motion Technology Corporation specialize in?
Which markets does Silicon Motion serve?
Who are Silicon Motion’s primary customers?
What recent products has Silicon Motion launched?
What geographical segments does Silicon Motion operate in?
How does Silicon Motion contribute to the smartphone and mobile device industry?
What are some of Silicon Motion’s key business achievements?
What financial performance outlook does Silicon Motion have?
Who is the current interim Chief Financial Officer of Silicon Motion?
What recognition has Silicon Motion received in the industry?
