Silicon Motion ( (SIMO) ) has released its Q4 earnings. Here is a breakdown of the information Silicon Motion presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Silicon Motion Technology Corporation is a leading global supplier of NAND flash controllers and solid state storage solutions, providing key components for servers, PCs, smartphones, and various other electronic devices. The company is renowned for its innovative storage solutions and serves a diverse range of industries, including automotive and industrial sectors.
In its latest earnings report for the fourth quarter of 2024, Silicon Motion reported a decrease in sales both quarter-over-quarter and year-over-year. Despite this decline, the company managed to expand its gross margin and announced an annual cash dividend of $2.00 per American Depositary Share. Full-year results showed a robust 26% increase in net sales compared to 2023.
Key financial highlights include fourth-quarter GAAP net sales of $191.2 million, a gross margin of 46.8%, and earnings per diluted ADS of $0.68. Non-GAAP results showed a slightly higher gross margin of 47.0% and earnings per diluted ADS of $0.91. The company successfully launched its PCIE Gen 5 controllers in 2024, securing significant wins with major flash and module makers, positioning itself for future growth.
Looking forward, Silicon Motion remains optimistic about its long-term growth prospects, focusing on broadening its product portfolio and expanding market share in various sectors. The company anticipates a challenging consumer market in early 2025, but expects a rebound in the latter half of the year driven by new product introductions and increased demand from OEM customers.
