Silicon Motion Technology Corporation

SIMO

Equity

ISIN US82706C1080 / Valor 2194973

NASDAQ (2024-09-16)

USD 55.91-6.25%

Silicon Motion Technology Corporation
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About company

Silicon Motion Technology Corporation is a global leader in designing and manufacturing semiconductor solutions for the mobile storage and mobile communications markets. Their products include NAND flash controllers, solid-state drives, and wireless communication chips.

Summarized from source with an LLMView SourceSector: Technology

Revenue Decline

Silicon Motion Technology Corporation reported a decrease in net sales for the first quarter of 2024. The company's revenue dropped to $189.3 million, representing a 6% decline from the previous quarter but a significant 53% increase year-over-year.

Net Income Reduction

For the first quarter of 2024, Silicon Motion Technology Corporation's net income (GAAP) fell to $16.0 million, or $0.48 per diluted ADS. This is a decrease from the fourth quarter of 2023, where the net income was $21.1 million, or $0.63 per diluted ADS.

Non-GAAP Earnings

Silicon Motion Technology Corporation's non-GAAP net income for the first quarter of 2024 was $21.6 million, or $0.64 per diluted ADS. This is a decrease from the fourth quarter of 2023, where the non-GAAP net income was $31.3 million, or $0.93 per diluted ADS.

Gross and Operating Margins

In the first quarter of 2024, Silicon Motion Technology Corporation reported a gross margin of 45.0% and an operating margin of 9.5% (GAAP). The non-GAAP operating margin was slightly higher at 12.0%, reflecting adjustments for stock-based compensation and other expenses.

Business Outlook

Silicon Motion Technology Corporation has increased its full-year outlook for 2024, expecting revenue to be between $800 million and $830 million, a 25% to 30% increase year-over-year. The company anticipates continued growth in its SSD and eMMC+UFS controller programs, which are expected to improve ASPs and profitability throughout the year.

Summarized from source with an LLMView Source

Key figures

8.94%1Y

-26.2%3Y

64.0%5Y

Performance

30.4%1Y

41.7%3Y

42.8%5Y

Volatility