Financial Performance - First quarter 2024 net sales were $189.3 million, a decrease of 6% Q/Q but an increase of 53% Y/Y[4] - Q1 2024 GAAP net income was $16.0 million, or $0.48 per diluted ADS, down from $21.1 million, or $0.63 per diluted ADS in Q4 2023[4][5] - For Q2 2024, management expects revenue between $199 million and $208 million, representing a Q/Q increase of 5% to 10% and a Y/Y increase of 42% to 48%[10] - For the full year 2024, revenue is expected to be between $800 million and $830 million, reflecting a Y/Y increase of 25% to 30%[11] - Q1 2024 gross margin was 45.0%, with an expected range of 45.0% to 46.0% for Q2 2024[10] - Operating margin for Q1 2024 was 9.5%, with an expected range of 15.0% to 16.3% for Q2 2024[10] - Gross profit for the same period was $85,120 thousand, resulting in a gross margin of 45.0%, up from 43.7% in the previous quarter[19] - Operating income for the three months ended March 31, 2024, was $17,950 thousand, with an operating margin of 9.5%[19] - Net income for the period was $16,016 thousand, translating to earnings per diluted ADS of $0.48[19] Sales and Product Performance - SSD controller sales in Q1 2024 increased by 0% to 5% Q/Q and by 35% to 40% Y/Y[3] - eMMC+UFS controller sales in Q1 2024 decreased by 10% to 15% Q/Q but increased by 235% to 240% Y/Y[3] - The company plans to scale new SSD and eMMC+UFS controller programs to improve ASPs and profitability throughout 2024[9] Capital Expenditures and Assets - Capital expenditures in Q1 2024 totaled $10.7 million, including $5.0 million for routine purchases and $5.7 million for building construction[8] - Total current assets increased to $801,838 thousand as of March 31, 2024, compared to $793,245 thousand at the end of the previous quarter[24] - Cash and cash equivalents decreased to $294,814 thousand from $314,302 thousand in the previous quarter[24] - The company reported a net cash provided by operating activities of $7,811 thousand for the three months ended March 31, 2024[27] - Research and development expenses for the period were $54,392 thousand, reflecting ongoing investment in new technologies[19] - The company’s total liabilities decreased slightly to $270,820 thousand as of March 31, 2024, from $273,265 thousand at the end of the previous quarter[24] Market Position and Risks - Silicon Motion continues to lead in supplying NAND flash controllers, indicating strong market positioning and potential for future growth[28] - The company acknowledges potential risks and uncertainties affecting future performance, including unpredictable customer order volumes and economic conditions[29] - Ongoing US-China tariffs and trade disputes may impact the company's business operations and customer relationships[29] - Supply chain disruptions and raw material shortages are currently affecting the industry, which could influence product availability and pricing[31] - The company emphasizes the importance of timely development and introduction of new or enhanced products to maintain competitive advantage[31] - There is a potential for impairment charges related to previously acquired or divested businesses, which could affect financial results[31] - The company does not intend to update or revise forward-looking statements unless required by securities laws, indicating a stable outlook for current projections[31] - The company is focused on monitoring customer sales outlook and purchasing patterns to adjust inventory accordingly[31] - The impact of inflation on both the company and its customers' businesses is a concern that could affect overall economic activity[29] - The company is prepared for potential changes in cash dividend payments at the discretion of its board of directors[29] - The company is closely watching the geopolitical tensions between Taiwan and China, which may have implications for its operations[29]

, May 03, 2024 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NasdaqGS: SIMO) "Silicon Motion"""Silicon Motion Jason Tsai 2024 4 25 Riyadh Lai Jason Tsai 2024 4 25 Riyadh Lai Silicon Motion Wallace Kou " Riyadh Silicon Motion 17 Riyadh " Kou "Jason Jason 10 " SILICON MOTION NAND eMMC UFS NAND Silicon Motion www.siliconmotion.com Selina Hsieh ir@siliconmotion.com ...

Business Highlights First quarter of 2024 sales decreased 6% Q/Q and increased 53% Y/Y SSD controller sales: 1Q of 2024 increased 0% to 5% Q/Q and increased 35% to 40% Y/YeMMC+UFS controller sales: 1Q of 2024 decreased 10% to 15% Q/Q and increased 235% to 240% Y/YSSD solutions sales: 1Q of 2024 decreased 5% to 10% Q/Q and decreased 30% to 35% Y/Y Financial Highlights  1Q 2024 GAAP1Q 2024 Non-GAAP • Net sales$189.3 million (-6% Q/Q, +53% Y/Y)$189.3 million (-6% Q/Q, +53% Y/Y) • Gross margin45.0%45.0% • Oper ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...

TAIPEI, Taiwan and MILPITAS, Calif., April 29, 2024 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NASDAQ:SIMO)("Silicon Motion" or the "Company"), a global leader in designing and marketing NAND flash controllers for solid state storage devices, confirms today its quarterly cash dividend. On October 30, 2023, the Board of Directors of the Company declared payment of an annual dividend of US$2.00 per ADS1, equivalent to US$0.50 per ordinary share, which will be paid in four quarterly installment ...

TAIPEI, Taiwan and MILPITAS, Calif., April 25, 2024 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NASDAQ:SIMO) ("Silicon Motion" or the "Company") today announced that Jason Tsai, currently VP of IR and Finance at Silicon Motion, has been appointed Interim Chief Financial Officer of the Company effective as of April 25, 2024. Mr. Jason Tsai succeeds Mr. Riyadh Lai who will be stepping down as Chief Financial Officer, effective as of April 25, 2024. Mr. Riyadh Lai will be staying on with the Com ...

Key PointsSilicon Motion designs and develops NAND flash memory controllers and provides mobile, data center and enterprise storage solutions.The AI boom is driving demand for NAND flash memory with its fast access and data storage capabilities.Silicon Motion faces heavy competition in the NAND controller market from Samsung, Micron Technology and Western Digital.5 stocks we like better than Silicon Motion TechnologySilicon Motion Technology Co. NASDAQ: SIMO is a fabless semiconductor company in the compute ...

Silicon Motion Technology Corporation (SIMO) has recently launched UFS (Universal Flash Storage) 4.0 controller, the SM2756, to address the increasing demand for AI-powered smartphones and advanced automotive and edge computing. In addition, the company also launched a second-generation SM2753 UFS3.1 controller. The advanced product launches expand SIMO’s portfolio of controllers, designed to support UFS4.0 to UFS2.2 standards.The company’s UFS portfolio is known to deliver high-end performance and “low pow ...

Company also launches its second generation UFS3.1 controller supporting the latest high speed 3D TLC and QLC NANDTAIPEI and MILPITAS, Calif., March 12, 2024 /PRNewswire/ -- Silicon Motion Technology Corporation (NasdaqGS: SIMO) ("Silicon Motion"), a global leader in designing and marketing NAND flash controllers for solid state storage devices, today introduced its UFS (Universal Flash Storage) 4.0 controller, the SM2756, as the flagship of the industry's broadest merchant portfolio of UFS controller solut ...

Silicon Motion Technology Corporation (SIMO) reported healthy fourth-quarter 2023 results, with the bottom and the top line beating the Zacks Consensus Estimate. The leading developer of microcontroller ICs for NAND flash storage devices witnessed top-line growth driven by healthy demand trends. In addition, the company has executed some management changes to better navigate the volatile market conditions.Net IncomeOn a GAAP basis, net income in the reported quarter was $21.1 million or 63 cents per America ...