Silicon Motion’s decade-long growth drives a 580% return for investors.

Silicon Motion Technology Corporation (NASDAQ: SIMO), founded in 1995, has become a leading developer of microcontroller ICs for NAND flash storage devices. The company also designs and markets high-performance, low-power semiconductor solutions for OEMs. Among its customers is Nexcopy Incorporated, a Southern California technology company specializing in flash memory storage products.

Today, Silicon Motion holds more than 1,500 patents, with over 1,300 still pending final approval. Its annual revenue is around $540 million, underscoring the company’s strong position in the semiconductor and storage controller markets.

From an investor’s perspective, the company’s performance has been even more striking. A $1,000 investment made in August 2011 would be worth approximately $6,832 as of August 23, 2021—representing a gain of 583.19% over the ten-year period. This return accounts for price appreciation but excludes dividends, according to NASDAQ’s analysis.

Source: NASDAQ

Since August 2021: where’s SIMO now?

Back in late August 2021, Silicon Motion (SIMO) was trading in the low-$70s. Fast-forward to today and the tape tells a different story: as of September 22, 2025 the stock closed around $95, brushing an all-time closing high and marking a solid climb despite a very bumpy road in between.

What changed? The company kept shipping controllers—lots of them—and kept widening the moat. In 2024, SMI rolled out its SM2322, a single-chip USB 3.2 Gen2x2 portable SSD controller that hits 20 Gbps and scales to roomy 8 TB QLC builds. That’s catnip for phone-to-console workflows and the “throw it in the bag” creative set. Momentum like that doesn’t show up in a quarter; it shows up in a trend.

Then there’s the long game. At industry events in 2025, SMI teased a PCIe 6.0 client SSD controller (codename Neptune) with projected 25+ GB/s reads and 3.5 M IOPS, signaling where the ball is headed—even if broad client adoption waits until the 2030 window. It’s classic SMI: ship today, signal tomorrow, keep the design-win pipeline full.

Of course, it wasn’t a straight line up. The MaxLinear deal drama peaked and cracked (termination in 2023), sent the shares wobbling, and moved the fight to arbitration and courtrooms. Through it all, the company kept printing controllers, paying a dividend (announced $2.00/ADS for 2024), and talking product roadmaps—slow, steady, stubborn. That posture matters to multiples.

So where do we land versus that August 2021 snapshot? Call it this: SIMO today trades notably higher than those early-’21 levels, near record territory, after digesting a failed merger and a memory cycle. That resilience, paired with portable-SSD wins and next-gen PCIe signals, explains why the stock now lives closer to the mid-$90s than the low-$70s. In other words—Morris’ rule of thumb—execution begets altitude.

Nexcopy introduces Disc License flash drives that emulate a CD-ROM device.

Lake Forest, CA – July 19, 2021 – Nexcopy Inc., a leading manufacturer of advanced flash memory solutions, has announced the release of its Disc License CD-ROM flash drives. These devices provide a hardware-based way to make a USB flash drive appear as a CD-ROM when connected to any host computer.

Why Disc License?

With optical drives disappearing from modern laptops and desktops, organizations that relied on CD or DVD media need alternatives. The Disc License drive bridges that gap. It appears to the system as a CD-ROM and is permanently read-only, ensuring that files cannot be altered, deleted, or reformatted. This makes it an effective method to create a USB CD-ROM flash drive that retains the benefits of optical media.

Greg Morris, President of Nexcopy, explains: “Think of Disc License as a blank CD. The drive capacity matches the GB size ordered by the customer. Point our software at any ISO file and the drive becomes a CD-ROM.” He adds, “What makes it elegant is the ability to re-write ISO files at any time. In practice, it’s like a CD-RW—but in the form of a USB stick.”

Key Benefits

Optical discs have long been trusted for software distribution thanks to auto-run functionality and read-only protection. Disc License preserves those advantages while moving away from fragile optical media. Because the device is hardware write-protected, it cannot be infected with malware or tampered with once data is loaded.

Features

• Default state is read-only (hardware write-protected)
• Burn any ISO file to create a CD-ROM USB flash drive
• Supports bootable ISO files
• Free Drive Wizard software for ISO burning
• Re-write with new ISO files anytime
• Hardware solution—cannot be hacked by software
• Available in USB 2.0 and USB 3.0, 2GB to 128GB

Industry Response

Stan McCrosky, head of Sales, highlights the demand: “After 15 years in the CD/DVD duplication industry, we’ve seen companies struggling to repurpose large ISO libraries. The Disc License drive solves that immediately—no conversion needed. Customers can use their ISO files as-is, and the response so far has been overwhelming.”

Implementation

Using the drive is straightforward:

• Connect the USB drive to a Windows computer
• Open the Drive Wizard software
• Select an ISO file
• Click “Burn” to write the ISO

To re-write, follow the same process—Drive Wizard will overwrite the old image with the new ISO.

Options and Availability

Nexcopy offers the Disc License in six body styles with customizable colors and branding, including Oxford (swivel), Newport, Lexington, Augusta, Huntington, and Geneva. The Oxford swivel drive is stocked for same-day printing and shipping, available in USB 2.0 (2GB, 4GB) and USB 3.0 (8GB–128GB). Custom branding is available through Nexcopy’s Logo-EZ printer.

The Drive Wizard software is available from Nexcopy’s support page and requires licensed Nexcopy drives to function.

Product Information

High-resolution image: Download here

Product page: https://www.nexcopy.com/usb-secure-flash-drives/disc-license/

Availability: Lock License USB 2.0 and 3.0 media are available for immediate delivery. Contact Nexcopy or authorized dealers for details.

Nexcopy’s Lock License flash drive adds password-based control to hardware write protection.

Nexcopy has redefined how secure USB media can function with the Lock License flash drive. By default, the drive is read-only—completely write protected. Using Nexcopy’s Lock License utility, the user can temporarily unlock the device with a password to enable write access. Once power is cut, the device automatically reverts to its safest state: read-only.

Greg Morris, CEO of Nexcopy Inc., explains: “What makes the Lock License unique is that whenever power is cut, the USB automatically returns to write-protected mode. This first-line defense makes it impossible for malicious software or a virus to infect the drive.”

The initial password is set on first use. From that point on, the user controls when the drive is writable. The design offers businesses a practical balance between usability and security.

Key Features

• Default state is read-only (hardware write protection)
• User-defined password removes write protection
• No password required for reading; functions like a WORM device
• GUI and command line utilities available for unlocking
• No back-door access—Nexcopy cannot unlock the device
• Available in USB 2.0 and USB 3.0, from 2GB up to 128GB

Stan McCrosky, head of Sales at Nexcopy, points to industries such as utilities, petroleum, and waterworks as clear beneficiaries. “Being able to update firmware on a hardware write-protected USB ensures maximum in-field security. The command line utility lets manufacturers automate updates without leaving the drive in a writable state.”

How It Works

• Insert the Lock License USB into a Windows computer
• Launch the GUI or command line utility
• Enter the assigned password to unlock write access
• Load or update content on the drive
• Eject the drive—once disconnected, it reverts to read-only
• Read access is universal; password is only required for unlocking write access

Nexcopy offers the Lock License media in multiple body styles and colors suitable for custom branding. Options include Oxford (swivel style), Newport, Lexington, Augusta, Huntington, and Geneva. Oxford is the stocked model, available for same-day printing and shipping.

In stock, Nexcopy carries Oxford swivel drives in USB 2.0 (2GB, 4GB) and USB 3.0 (8GB through 128GB) capacities. Full-color branding is available through Nexcopy’s Logo-EZ printer.

The Lock License utility can be downloaded from Nexcopy’s support page. Note: the security function requires Nexcopy-licensed media—it cannot be applied to off-the-shelf USB sticks.

With in a few minutes of downloading Rufus one can determine the software does not make a USB CD-ROM flash drive.

We confirmed this with another article we found on the web from GetUSB.info and they explained how to burn ISO to USB. What they concluded, and so did we, is that Rufus will extract the content of an ISO file and copy those files to the USB flash drive, but the Rufus software doesn’t change the configuration of the device, to that of a CD-ROM.

What started this quest was not wanting to make a bootable Windows flash drive, but rather, find a way to make a USB read-only so the data on the flash drive would not be removed or deleted.

In addition to having the USB read-only for the content, it also makes things impossible for a virus to jump onto the flash drive and spread. Given (my day job) my company doesn’t want a flash drive with our content and logo to be able to spread a virus, so the only solution we found was making sure the USB stick was read-only in the first place.

GetUSB.info article explains what Rufus does and also how to make a USB CD-ROM flash drive, the right way.

Why hardware write-protected USB drives are critical for Industrial Control Systems.

Honeywell’s recent cybersecurity report noted that 37% of threats are designed to spread via removable media, nearly doubling from 19% in 2020. That spike highlights how USB flash drives remain a weak link in Industrial Control Systems (ICS) if not properly managed.

Honeywell’s solution, Honeywell Forge, is software that monitors connected devices and flags risks [Ref:1]. Monitoring is useful, but it doesn’t prevent malware from getting in. Prevention requires the right kind of media in the first place.

Air-gapped systems and the USB problem

ICS environments are typically air-gapped—they’ve never touched the internet. Updates happen through portable storage, usually a USB flash drive. If that drive is compromised, malware bypasses all other defenses and lands directly in the control system. The only effective safeguard is a drive that is physically incapable of being infected while in transit.

Software tricks—like setting a read-only attribute with DISKPART or flipping registry rights—don’t cut it. Those methods are easy to reverse and offer little real protection against a determined attacker.

A hardware-level solution

The Lock License flash drive by Nexcopy takes a different approach. Its write protection is enforced at the hardware controller level. Unlike software locks, hardware-level controls cannot be undone with a few registry edits. This makes the device far more resistant to tampering or malware injection.

The Lock License design also balances usability. A content creator can temporarily unlock the drive with a password to write new data. Once disconnected, the drive automatically returns to its secure state: read-only. That means you can safely prepare update media in a trusted environment, then deploy it to an ICS without fear of the drive being altered along the way.

Final thought

It’s hard not to ask: why weren’t USB drives built like this from the beginning? For ICS, where uptime and safety are everything, a hardware write-protected flash drive isn’t just a convenience—it’s a necessity.

Why Windows shows the wrong USB volume name—and three ways to fix it.

On some Windows 10 systems, a USB flash drive displays the wrong volume label in File Explorer—even though the name is correct in Disk Management. In some cases, every connected USB device shows the same (incorrect) label. If you’re seeing this, there are three likely causes. Start with the simplest first.

Why enterprises are turning to hardware-based write protection for USB flash drives.

Data protection and cyber-security have become inseparable from day-to-day business operations. In this article, Greg Morris, CEO of Nexcopy Incorporated in Southern California, explores the opportunities enterprises have with write-protected USB technology.

November 18, 2020

As the global economy leans further into digitization, intellectual property and sensitive assets are increasingly shared in digital form. That shift comes with higher risks. Data breaches, cyberattacks, and hacking attempts against individuals, governments, and private corporations have grown dramatically over the past decade. Reports suggest that a single data intrusion can cost an enterprise an average of $3.92 million in damages.

The stakes are clear: protecting digital data—especially confidential information—should be a top priority for IT managers. Without a strategy in place, an enterprise leaves itself open to cyber criminals who can exploit weak entry points to steal or manipulate information worth millions.

Cyber-security and endpoint data loss protection strategies need to cover all access points, including portable devices like USB flash drives. Employees require storage tools that are both secure and simple to use. Striking this balance empowers users while ensuring IT managers can safeguard the organization’s infrastructure against human error or forgetfulness.

Since IBM introduced the USB flash drive in 2000, the device has remained a primary tool for information exchange across industries—government, healthcare, finance, telecommunications, and manufacturing all rely on USB storage. While convenient, standard USB drives carry risk. Without built-in safeguards, they can easily become vehicles for leaking sensitive data.

Healthcare illustrates the problem clearly. Doctors often use USB drives to move patient data between offices and hospitals. Each site must remain secure, yet transferring files creates opportunities for malware to piggyback on the process. If a USB is read-only by default, malicious code cannot be written to it. After a network scan confirms safety, a password can unlock the drive to temporarily allow write access. By defaulting to write-protected mode, Lock License drives make it impossible for malware to slip in unnoticed.

Lock License drives automatically return to read-only mode whenever they are disconnected. This creates a smooth user experience—data can always be read without a password, while write access requires explicit authorization. Employees get the simplicity they expect, while IT teams benefit from reduced exposure to cyber threats.

The same principle applies in industrial settings. System control products—such as turbines, pumps, and wind energy motors—rely on firmware updates to function properly. Because these units lack interfaces to enter encryption passwords, encrypted USBs are not practical. A write-protected USB, however, is ideal. The system can pull updates directly from the drive, while the drive itself remains immune to malicious code injection.

Layered defenses remain critical for modern enterprises. Software solutions help, but locking down the most common physical entry point—the USB port—with hardware-enforced read-only devices adds another level of protection. Nexcopy’s write-protected USB flash drives fit into this broader strategy, helping both public and private organizations reduce vulnerabilities and maintain tighter control over digital assets.

Learn more about Nexcopy’s USB write protection technology.