Silicon Motion Technology: Up on upbeat preliminary Q3 results

Silicon Motion Technology

07/10/2020 15:29

** Shares of storage device maker  SIMO.O  up ~6% at $40.55
    ** Co expects Q3 rev to be ~5% above high end of its
guidance range of $114 mln to $120 mln issued on July 30
 urn:newsml:reuters.com:*:nGNXwqRLl
    ** SIMO expects adj. gross margin to be near mid-point of
its guidance range of 48.0% to 50.0%
    ** Co to release its Q3 results on Nov. 2
    ** SIMO shares down 20% so far this year

 (Reporting by Lasya Priya M in Bengaluru)