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) has announced preliminary results for Q1 2022, projecting revenue growth slightly above its original guidance of $225 million to $238 million. Expected gross margin (non-GAAP) stands at around 52%, exceeding the prior estimate of 49.5% to 51.5%. The official financial results will be released on May 4, followed by a conference call on May 5, 2022, at 8:00 a.m. ET.
Silicon Motion Technology Corporation (SIMO) reported its 4Q 2021 financial results, with net sales reaching $264.4 million, a 4% increase quarter-over-quarter and a 84% rise year-over-year. The company achieved a full-year revenue of $922.1 million, up 71% year-over-year. Fourth-quarter earnings per diluted ADS were $1.73 (GAAP) and $1.90 (non-GAAP). Notably, SSD controller sales hit a record high, increasing 15%-20% quarter-over-quarter. The Board declared a 43% increase in annual dividends to $2.00 per ADS and announced a new $200 million share repurchase program.
Silicon Motion Technology Corporation (SIMO) has confirmed its quarterly cash dividend of US$0.50 per ADS, scheduled for payment on February 25, 2022, to record shareholders as of February 14, 2022. This dividend is part of an annual distribution of US$2.00 per ADS, equivalent to US$0.50 per ordinary share, paid in four installments. The payment of future dividends will depend on the Board's assessment of the Company's interests and compliance with applicable laws.
Unison has strengthened its executive team with the appointment of Ryan Downs as President and Scott Case as Chief Financial Officer. With over $1.2 billion in assets under management and investments in nearly 8,000 homes, Unison aims to enhance its position in the residential equity agreement market. Downs brings a decade of leadership from Proxibid, while Case offers over 25 years of experience, including pivotal roles at Silicon Valley Bank. Their expertise is expected to drive growth and expand the company's reach into a broader market.
Silicon Motion Technology Corporation (SIMO) reported preliminary fourth quarter results indicating a sequential revenue growth in the upper half of its previous guidance of 0% to 5%. Additionally, the non-GAAP gross margin is expected to fall within the upper half of its guidance range of 48.5% to 50.5%. The final financial results will be released on January 26, 2022, followed by a conference call on January 27, 2022, at 8:00 a.m. ET. This positive outlook reflects the company's strong position in the NAND flash controller market.
Silicon Motion Technology Corporation (SIMO) has authorized a new share repurchase program to buy back up to $200 million of its American Depositary Shares (ADSs) within the next six months. This decision follows a 43% increase in its annual dividend announced on October 25. The company, holding approximately $419.5 million in cash and equivalents, reassures investors by reaffirming its fourth quarter financial guidance. The repurchases will be conducted in open markets and will depend on market conditions.
Silicon Motion Technology Corporation (NASDAQ-GS: SIMO) announced its participation in the Open Compute Project (OCP) Global Summit from November 8-10, 2021, showcasing innovative SSD controllers and storage solutions. The company will introduce enterprise-grade controllers, including PCIe Gen5 NVMe platforms, designed for optimal performance and cost-efficiency in data center applications. Silicon Motion's products are aligned with OCP Cloud SSD specifications, emphasizing reliability and error correction technology, which positions the company favorably in the competitive storage market.
Silicon Motion Technology Corporation (SIMO) reported a record third quarter for 2021, achieving net sales of $254.2 million, reflecting a 15% increase quarter-over-quarter and a 102% rise year-over-year. Net income rose to $55.4 million or $1.58 per diluted ADS. The company reached a $1 billion revenue run-rate, a quarter ahead of schedule, driven by strong sales of eMMC+UFS controllers. Gross margin was 50.0%, while operating expenses increased to $58.3 million. A $2.00 annual dividend was declared, marking a 43% increase from the previous year.
Silicon Motion Technology Corporation (NASDAQ: SIMO) has announced an annual cash dividend of $2.00 per ADS, marking a 43% increase from the previous year’s $1.40. This dividend will be paid in four quarterly installments of $0.50 each. Record and payment dates for the dividends are set from November 2021 to August 2022. The decision results from strong financial performance and favorable business outlook, as stated by CEO Wallace Kou. Future dividends will depend on the Board’s assessment of shareholder interests and legal compliance.
Silicon Motion Technology Corporation (NASDAQ: SIMO) reports preliminary third quarter results indicating that revenue growth will slightly exceed the high-end of its original guidance of 7.5% to 12.5%. Gross margin (non-GAAP) is expected to surpass 50%, aligning with the upper end of prior guidance of 48.5% to 50.5%. The company plans to release its full financial results on October 27, 2021, followed by a conference call on October 28, 2021.