Silicon Motion jumps on upbeat preliminary Q3 estimates

Silicon Motion Technology

07/10/2019 15:34

** Shares of hard-disk-drive gear maker  SIMO.O  rise 6.5%
to $38.2 
    ** Set for best day in nearly 11 months, if gains hold, and
among top pct gainers on Nasdaq computer index  .IXK  
    ** Estimates Q3 rev. within 5% above high-end of previous
range of $104 mln-$108 mln  urn:newsml:reuters.com:*:nFWN26R04O
    ** Expects adj. gross margin near high-end of previous
guidance range of 48.0% to 50.0%
    ** To report Q3 on Oct. 29 after markets  close
    ** Including session gains, stock up 10.5% this year

 (Reporting by C Nivedita and Bharath Manjesh in Bengaluru)
 ((Bharath.ManjeshR@thomsonreuters.com;  outside U.S. +91 80
6749 8400;))