Silicon Motion Technology Co. (NASDAQ:SIMO – Get Free Report) declared a quarterly dividend on Sunday, May 5th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, May 8th.
Silicon Motion Technology has decreased its dividend by an average of 29.1% per year 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 research 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 %
Shares of SIMO stock opened at $73.96 on Monday. The stock has a fifty day moving average of $74.63 and a 200 day moving average of $65.79. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 3.98 and a beta of 0.87. Silicon Motion Technology has a 52 week low of $49.50 and a 52 week high of $95.33.
Analyst Ratings Changes
SIMO has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $85.00 price objective on shares of Silicon Motion Technology in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Craig Hallum boosted their price objective on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. B. Riley upped their price objective on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $87.57.
Read Our Latest Report on Silicon Motion Technology
About Silicon Motion Technology
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.
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