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Silicon Motion Releases Preliminary Q2 Results, Declares Dividend

Silicon Motion (NASDAQ: SIMO  ) has put up a few updated numbers in anticipation of its upcoming Q2 results announcement. The company believes it will post revenue that will be flat on a quarter-over-quarter basis, a projection below its original guidance of 5%-10% growth. In Q1, the firm's top line was $57.4 million.

Gross margin on a non-GAAP basis, however, is expected to be 47%-49%, an improvement over the former guidance of 45%-47%.

The firm will unveil those Q2 results after market close on July 29.

Meanwhile, Silicon Motion declared a quarterly dividend. This is to be $0.15 per each of the company's American depositary shares, to be dispensed on Aug. 8 to shareholders of record as of Aug. 1. That amount annualizes to $0.60 per share, yielding 5.7% at the company's most recent closing stock price of $10.53.

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Related Tickers

9/27/2016 4:00 PM
SIMO $48.71 Down -0.73 -1.48%
Silicon Motion Tec… CAPS Rating: ***