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An announcement from Silicon Motion ( (SIMO) ) is now available.
On February 6, 2025, Silicon Motion announced its financial results for the fourth quarter of 2024, reporting a decrease in net sales by 10% quarter-over-quarter and 6% year-over-year to $191.2 million. Despite the challenging consumer market, the company achieved a 26% increase in full-year revenue compared to 2023, driven by the successful launch of its industry-leading PCIe Gen 5 controllers. The company declared an annual cash dividend of $2.00 per American Depositary Share and emphasized its strategy to broaden its product portfolio and expand into new markets, expecting growth in market share and profitability in the mobile and PC sectors.
More about Silicon Motion
Silicon Motion Technology Corporation operates in the semiconductor industry, specializing in the design and development of NAND flash controllers and storage solutions. The company primarily focuses on the consumer, enterprise, automotive, industrial, and commercial storage markets.
YTD Price Performance: 3.60%
Average Trading Volume: 321,101
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.89B
Learn more about SIMO stock on TipRanks’ Stock Analysis page.
