Silicon Motion Stock Jumps Before Q1 Earnings As Dividend Date Nears
Silicon Motion shares closed at $153.46, up 8.1% Friday ahead of first-quarter earnings due April 28. The company confirmed a $0.50-per-ADS dividend for May 21, record date May 7. Management previously guided Q1 revenue of $292 million to $306 million, up as much as 84% from a year earlier. Wall Street expects $1.28 per share in earnings and $299.53 million in revenue.