Shares of Silicon Motion Technology Corporation (SIMO) surged 5.33% in Thursday's pre-market trading, following a string of positive developments for the NAND flash controller maker.
Firstly, Silicon Motion reported better-than-expected earnings results for the fourth quarter of 2024. The company's adjusted earnings of $0.91 per share exceeded Wall Street's expectations of $0.77, while revenue of $191.16 million also beat estimates. These upbeat financials highlighted the company's strong performance and operational efficiency.
Additionally, Silicon Motion announced that its PCIe Gen4 SSD controller has achieved ASPICE Capability Level 3 (CL3) certification from UL Solutions, making it the first SSD controller vendor to attain this milestone. This certification validates Silicon Motion's ability to establish standardized workflows and processes for the automotive industry, a key growth market for the company's cutting-edge SSD solutions.
Furthermore, Silicon Motion declared a quarterly dividend of $0.4975 per share, payable on February 27th. This dividend payment, which represents a 3.5% yield based on the current stock price, demonstrates the company's commitment to returning value to shareholders and its confidence in its financial stability.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.