Welcome to our dedicated page for Silicon Motion Technology news (Ticker: SIMO), a resource for investors and traders seeking the latest updates and insights on Silicon Motion Technology stock.
Silicon Motion Technology Corp (SIMO) delivers cutting-edge NAND flash controllers and storage solutions powering smartphones, data centers, and automotive systems worldwide. This dedicated news hub provides investors and industry professionals with centralized access to official announcements, strategic developments, and technological breakthroughs.
Track critical updates including quarterly earnings disclosures, product launch details, and partnership agreements. Our curated collection spans innovations in SSD controllers, embedded storage advancements, and enterprise storage solutions – all essential for understanding SIMO's role in enabling next-generation semiconductor applications.
Discover updates across key operational areas: mobile storage innovations for 5G devices, automotive-grade controller developments, and data center storage architectures. Each announcement is verified at source to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for real-time access to Silicon Motion's evolving market position. Monitor how their controller designs continue shaping storage efficiency in AI-driven devices, industrial IoT systems, and hyperscale computing environments.
Silicon Motion Technology (SIMO) has achieved ISO 26262 ASIL B Ready and ASPICE CL2 certifications for its automotive storage solutions. This milestone reinforces the company's position in delivering high-standard automotive-grade storage solutions, particularly for electric vehicles (EVs) and autonomous driving technologies.
The company's NAND Flash controller technologies and firmware are designed to meet strict safety and reliability standards for automotive applications. With over 20 years of expertise, Silicon Motion's automotive-grade products comply with multiple international standards, including AEC-Q100, IATF 16949, ISO 26262, and ASPICE. Their product range includes SSD controllers and Ferri-embedded storage products designed for safer and smarter vehicles.
Silicon Motion Technology (SIMO) has appointed Jason Tsai as permanent Chief Financial Officer, effective October 28, 2024. Tsai, who has been serving as Interim CFO since April 25, 2024, was selected after a six-month search process. With over 25 years of finance leadership experience in semiconductor, hardware, and software sectors, Tsai previously held positions at Zendesk and Synaptics. CEO Wallace Kou highlighted Tsai's contributions to the finance team and his deep understanding of the company's business, customers, and industry as key factors in the appointment.
Silicon Motion (NASDAQ: SIMO) reported Q3 2024 financial results with net sales of $212.4 million, up 1% Q/Q and 23% Y/Y. The company's SSD controller sales were flat Q/Q but increased 20-25% Y/Y, while eMMC+UFS controller sales grew 0-5% Q/Q and 40-45% Y/Y. GAAP net income was $20.8 million with EPS of $0.62, down from $30.8 million and $0.91 in Q2. Non-GAAP net income was $31.0 million with EPS of $0.92. Gross margin improved to 46.7% GAAP and 46.8% non-GAAP. For Q4 2024, the company expects revenue between $191-202 million, representing a 10-5% Q/Q decline.
Silicon Motion Technology (SIMO) has announced an annual cash dividend of $2.00 per ADS, to be distributed in four quarterly installments of $0.50 per ADS. The payments are scheduled between November 2024 and August 2025, with specific record and payment dates announced. CEO Wallace Kou emphasized the company's strong business outlook and free cash flow generation capacity, highlighting their commitment to meaningful shareholder distributions. The dividend payments are subject to Board approval and compliance with applicable laws and agreements.
Silicon Motion Technology (NasdaqGS: SIMO) has announced preliminary third quarter 2024 financial results. The company expects sequential revenue growth to be above the midpoint of its original guidance range of $205 million to $216 million. Gross margin (non-GAAP) is anticipated to be in the upper half of the previously guided 46.0% to 47.0% range.
Silicon Motion will release its full Q3 2024 financial results on October 30, 2024, after market close. The company will host a conference call on October 31 at 8:00 a.m. Eastern Time. Participants must pre-register for the call, and the event will also be webcasted on the company's website.
Silicon Motion (SIMO) has unveiled the SM2508, a PCIe Gen5 NVMe 2.0 client SSD controller for AI PCs and gaming consoles. Key features include:
- First PCIe Gen5 client SSD controller using TSMC's 6nm EUV process
- 50% reduction in power consumption compared to 12nm process competitors
- Less than 7W power consumption for the entire SSD
- 1.7x better power efficiency than PCIe Gen4 SSDs
- Up to 70% better efficiency than current PCIe Gen5 offerings
- Supports 8 NAND channels with up to 3,600 MT/s per channel
- Sequential speeds up to 14.5 GB/s (read) and 13.6 GB/s (write)
- Random performance up to 2.5M IOPS
Production ramp of SM2508 is targeted for Q4 2024.
Silicon Motion Technology (SIMO) reported strong Q2 2024 financial results, with net sales increasing 11% Q/Q and 50% Y/Y to $210.7 million. The company saw growth across its product lines:
- SSD controller sales increased 25-30% Y/Y
- eMMC+UFS controller sales surged 190-195% Y/Y
- SSD solutions sales rose 20-25% Q/Q
Gross margin improved to 45.9% GAAP (46.0% non-GAAP). Net income reached $30.8 million or $0.91 per diluted ADS (GAAP). The company expects Q3 2024 revenue of $205-216 million, representing -2.5% to +2.5% Q/Q growth. For full year 2024, Silicon Motion projects revenue of $800-830 million, up 25-30% Y/Y.
Silicon Motion Technology (NasdaqGS: SIMO) has confirmed its quarterly cash dividend. The company, a global leader in NAND flash controllers for solid state storage devices, will pay $0.50 per ADS (equivalent to $0.125 per ordinary share) on August 22, 2024 to shareholders of record as of August 8, 2024. This payment is part of an annual dividend of $2.00 per ADS, distributed in four quarterly installments. The company's depository bank's DR Books will be closed for issuance and cancellation on August 8, 2024. Future dividends remain subject to the Board's determination of shareholder interests and compliance with applicable laws and agreements.
Silicon Motion Technology (NasdaqGS: SIMO) has announced its preliminary financial results for the second quarter of 2024. The company anticipates sequential revenue growth slightly above the high-end of the initial guidance range of $199 million to $208 million, issued on May 3, 2024.
Additionally, the non-GAAP gross margin is expected to be near the upper bound of the original guidance range of 45.0% to 46.0%. The official financial results will be released on August 1, 2024, after market close. A conference call to discuss these results is scheduled for August 2 at 8:00 a.m. Eastern Time, with pre-registration required for participation.
Silicon Motion (NasdaqGS: SIMO) has expanded its management team with three significant appointments: Dr. Jen-Tai Hsu as Vice President of Algorithm & Technology, Tao Cheng as Vice President of Manufacturing Operations, and Tom Sepenzis as Senior Director of Investor Relations & Strategy. These appointments aim to bolster the company's leadership in NAND flash controller technology and enhance its investor communications.
Dr. Hsu brings nearly 30 years of experience in analog/mixed-signal design and NAND storage research, having previously held pivotal roles at GUC, YMTC/XMC, and Intel. Tao Cheng, promoted from within, will leverage his extensive experience at MediaTek and TSMC to oversee worldwide manufacturing operations. Lastly, Tom Sepenzis, with over 20 years in technology analysis and investor relations, will drive Silicon Motion's investor outreach and strategic communication efforts.
