Silicon Motion climbs after strong preliminary report

Silicon Motion Technology

08/07/2021 16:45

** Shares of Silicon Motion Technology Corp  SIMO.O  rising 1.4%
on Thurs after the maker of components for solid state drives
said https://ir.siliconmotion.com/news-releases/news-release-details/silicon-motion-announces-preliminary-second-quarter-2021-revenue
 its second-qtr rev is expected to be up 20% sequentially
    ** Co on May 6 had forecast sequential rev growth between 6%
and 10%
    ** SIMO also said it expects non-GAAP gross margins at least
half a percentage point above the high end of its previous
guidance of 48% to 50%
    ** SIMO scheduled to release its full qtrly report on July
29
    ** SIMO up 29% YTD vs Nasdaq's  .IXIC  12% increase

 (Reporting by Noel Randewich)
 ((noel.randewich@tr.com; (415) 677 2542, Twitter: @randewich;))