Silicon Motion Technology Corporation (NASDAQ:SIMO) Q4 2023 Earnings Conference Call February 7, 2024 8:00 AM ET Company Participants Jason Tsai - VP, IR & Finance Wallace C. Kou - President & Chief Executive Officer Conference Call Participants Mehdi Hosseini - Susquehanna Financial Quinn Bolton - Needham & Company Gokul Hariharan - J.P. Morgan Anthony Stoss - Craig-Hallum Capital Craig Ellis - B. Riley Securities Suji Desilva - ROTH MKM Partners Operator Good day and thank you for standing by. Welcome to ...

Business Highlights Fourth quarter sales increased 17% Q/Q and increased 1% Y/Y SSD controller sales: 4Q increased 15% to 20% Q/Q and increased 0% to 5% Y/YeMMC+UFS controller sales: 4Q increased 25% to 30% Q/Q and increased 20% to 25% Y/YSSD solutions sales: 4Q decreased 5% to 10% Q/Q and decreased 45% to 50% Y/Y Announced annual cash dividend of $2.00 per ADS Financial Highlights  4Q 2023 GAAP4Q 2023 Non-GAAP•   Net sales$202.4 million (+17% Q/Q, +1% Y/Y)$202.4 million (+17% Q/Q, +1% Y/Y)•   Gross margin4 ...

Exhibit 99.1 Silicon Motion Announces Results for the Period Ended December 31, 2023 NEWS RELEASE Business Highlights • Fourth quarter sales increased 17% Q/Q and increased 1% Y/Y • SSD controller sales: 4Q increased 15% to 20% Q/Q and increased 0% to 5% Y/Y • eMMC+UFS controller sales: 4Q increased 25% to 30% Q/Q and increased 20% to 25% Y/Y • SSD solutions sales: 4Q decreased 5% to 10% Q/Q and decreased 45% to 50% Y/Y • Announced annual cash dividend of $2.00 per ADS Financial Highlights | --- | --- | --- ...

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After reaching an important support level, Silicon Motion Technology Corporation (SIMO) could be a good stock pick from a technical perspective. SIMO recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with th ...

Financial Data and Key Metrics Changes - Revenue grew 23% sequentially to $172 million in Q3 2023, with earnings per ADS increasing 67% sequentially to $0.63 [10][21] - Gross margins remained stable at 42.5%, while operating margin increased to 13.8% from 8.3% in the previous quarter [21][24] - Cash and cash equivalents increased to $350.3 million from $305 million at the end of the previous quarter [22] Business Line Data and Key Metrics Changes - SSD controller sales grew 5% to 10% sequentially, while eMMC and UFS controller sales more than doubled due to holiday season demand and normalizing inventory levels [20][21] - SSD solutions sales decreased by 5% to 10% sequentially [20] Market Data and Key Metrics Changes - Inventory levels across end markets are normalizing, with improved OEM order activity leading to strong revenue growth [10][12] - The PC and smartphone markets are expected to see a rebound, with inventory levels normalizing after a year of excess [12][13] Company Strategy and Development Direction - The company aims to maintain technology leadership and expand into additional markets such as enterprise, automotive, and IoT [9][11] - Focus on introducing next-generation solutions for SSD and embedded markets to drive long-term growth [11][12] - The company is committed to investing in R&D to support technology leadership, with elevated operating expenses expected in the near term [21][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth in 2024 as end market demand stabilizes and inventory levels normalize [19][22] - The company anticipates a gradual recovery in gross margins as NAND makers' financial health improves [24][25] Other Important Information - The company filed a Notice of Arbitration against MaxLinear for breaches of the merger agreement, seeking a termination fee of $160 million [7] - A new annual dividend of $2 per ADS was declared, with the first installment to be paid in November [22] Q&A Session Summary Question: How is the increased adoption of QLC helping the company? - Management noted that all NAND makers are expected to adopt QLC NAND by late 2024, which will initially transition to client SSDs and is projected to significantly impact the market by 2025 [29] Question: What would it take for the company to become more aggressive in stock buybacks? - The Board is continuously evaluating ways to return cash to shareholders, including share repurchase, but currently, there is no program in place [30] Question: What is the outlook for gross margins? - Management indicated that gross margins are expected to gradually improve as the market recovers, but specific guidance for next year will be provided in the next earnings call [34][35] Question: What is the sustainability of the recovery in the eMMC and UFS market? - Management confirmed that channel inventory has normalized and expects growth in both eMMC and UFS products, with a strong market share position anticipated for 2024 [48] Question: What is the current market share situation for client SoC controllers? - The company maintains a stable market share around 30% and expects to gain further market share in 2024 [55]

Exhibit 99.1 Silicon Motion Announces Results for the Period Ended September 30, 2023 NEWS RELEASE Business Highlights • Third quarter sales increased 23% Q/Q and decreased 31% Y/Y • SSD controller sales: 3Q increased 5% to 10% Q/Q and decreased 10% to 15% Y/Y • eMMC+UFS controller sales: 3Q increased 100% to 105% Q/Q and decreased 40% to 45% Y/Y • SSD solutions sales: 3Q decreased 5% to 10% Q/Q and decreased 30% to 35% Y/Y Financial Highlights | --- | --- | --- | --- | |-------|---------------------------- ...

Exhibit 99.1 Silicon Motion Announces Results for the Period Ended March 31, 2023 NEWS RELEASE Business Highlights • First quarter sales decreased 38% Q/Q and 49% Y/Y • SSD controller sales: 1Q decreased 20% to 25% Q/Q and 35% to 40% Y/Y • eMMC+UFS controller sales: 1Q decreased 70% to 75% Q/Q and 75% to 80% Y/Y • SSD solutions sales: 1Q decreased 30% to 35% Q/Q and approximately flat Y/Y Financial Highlights | --- | --- | --- | --- | --- | |-------|-------|--------------------------------|----------------- ...

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, 2022 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 ACT OF 1934 Date of ...