Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score ...

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.However, it's pretty easy to find cutting-edge growth stocks with the he ...

After reaching an important support level, Silicon Motion Technology Corporation (SIMO) could be a good stock pick from a technical perspective. SIMO recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with th ...

Financial Data and Key Metrics Changes - Revenue grew 23% sequentially to $172 million in Q3 2023, with earnings per ADS increasing 67% sequentially to $0.63 [10][21] - Gross margins remained stable at 42.5%, while operating margin increased to 13.8% from 8.3% in the previous quarter [21][24] - Cash and cash equivalents increased to $350.3 million from $305 million at the end of the previous quarter [22] Business Line Data and Key Metrics Changes - SSD controller sales grew 5% to 10% sequentially, while eMMC and UFS controller sales more than doubled due to holiday season demand and normalizing inventory levels [20][21] - SSD solutions sales decreased by 5% to 10% sequentially [20] Market Data and Key Metrics Changes - Inventory levels across end markets are normalizing, with improved OEM order activity leading to strong revenue growth [10][12] - The PC and smartphone markets are expected to see a rebound, with inventory levels normalizing after a year of excess [12][13] Company Strategy and Development Direction - The company aims to maintain technology leadership and expand into additional markets such as enterprise, automotive, and IoT [9][11] - Focus on introducing next-generation solutions for SSD and embedded markets to drive long-term growth [11][12] - The company is committed to investing in R&D to support technology leadership, with elevated operating expenses expected in the near term [21][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth in 2024 as end market demand stabilizes and inventory levels normalize [19][22] - The company anticipates a gradual recovery in gross margins as NAND makers' financial health improves [24][25] Other Important Information - The company filed a Notice of Arbitration against MaxLinear for breaches of the merger agreement, seeking a termination fee of $160 million [7] - A new annual dividend of $2 per ADS was declared, with the first installment to be paid in November [22] Q&A Session Summary Question: How is the increased adoption of QLC helping the company? - Management noted that all NAND makers are expected to adopt QLC NAND by late 2024, which will initially transition to client SSDs and is projected to significantly impact the market by 2025 [29] Question: What would it take for the company to become more aggressive in stock buybacks? - The Board is continuously evaluating ways to return cash to shareholders, including share repurchase, but currently, there is no program in place [30] Question: What is the outlook for gross margins? - Management indicated that gross margins are expected to gradually improve as the market recovers, but specific guidance for next year will be provided in the next earnings call [34][35] Question: What is the sustainability of the recovery in the eMMC and UFS market? - Management confirmed that channel inventory has normalized and expects growth in both eMMC and UFS products, with a strong market share position anticipated for 2024 [48] Question: What is the current market share situation for client SoC controllers? - The company maintains a stable market share around 30% and expects to gain further market share in 2024 [55]

Exhibit 99.1 Silicon Motion Announces Results for the Period Ended September 30, 2023 NEWS RELEASE Business Highlights • Third quarter sales increased 23% Q/Q and decreased 31% Y/Y • SSD controller sales: 3Q increased 5% to 10% Q/Q and decreased 10% to 15% Y/Y • eMMC+UFS controller sales: 3Q increased 100% to 105% Q/Q and decreased 40% to 45% Y/Y • SSD solutions sales: 3Q decreased 5% to 10% Q/Q and decreased 30% to 35% Y/Y Financial Highlights | --- | --- | --- | --- | |-------|---------------------------- ...

Exhibit 99.1 Silicon Motion Announces Results for the Period Ended March 31, 2023 NEWS RELEASE Business Highlights • First quarter sales decreased 38% Q/Q and 49% Y/Y • SSD controller sales: 1Q decreased 20% to 25% Q/Q and 35% to 40% Y/Y • eMMC+UFS controller sales: 1Q decreased 70% to 75% Q/Q and 75% to 80% Y/Y • SSD solutions sales: 1Q decreased 30% to 35% Q/Q and approximately flat Y/Y Financial Highlights | --- | --- | --- | --- | --- | |-------|-------|--------------------------------|----------------- ...

Revenue and Sales - In 2022, 45% to 50% of Silicon Motion's net sales were from SSD controllers, 35% to 40% from eMMC and UFS controllers, and 5% to 10% from SSD solutions[124]. - Sales to the five largest customers represented approximately 67% of net revenue in 2022, with significant customers including Micron and SK Hynix[128]. - Approximately 79% of Silicon Motion's sales in 2022 were attributable to its direct sales force[130]. - Total revenue for the year ended December 31, 2022, increased by 3% to $945.9 million from $922.1 million in the prior year[159]. - In 2022, the company's net sales increased by 3% year-over-year to approximately US$945.9 million, with Mobile Storage revenue rising by 2% and SSD controller sales decreasing by 5% to 10%[184]. - The company expects higher net sales generally in the second half of each year due to increased demand during year-end holiday seasons[163]. Expenses and Profitability - Research and development expenses for Silicon Motion were approximately US$188.5 million in 2022, up from US$164.3 million in 2021[135]. - Total operating expenses increased by 17% to $251.9 million from $214.9 million in the prior year[159]. - Operating profit decreased by 13% to $213.9 million from $245.9 million in the prior year[159]. - Diluted earnings per ADS decreased by 9.6% to $5.17 from $5.72 in the prior year[159]. - Gross profit as a percentage of revenue decreased by 0.8 percentage points to 49.2% from 50.0% in the prior year[159]. - Gross profit as a percentage of net sales decreased to 49% in 2022 from 50% in 2021, primarily due to significant inventory value write-downs related to SSD solutions[185]. Research and Development - The company has 2,490 patents and 1,203 pending applications worldwide as of March 31, 2023[135]. - Research and development expenses increased by 15% year-over-year to approximately US$188.5 million in 2022, with salary and benefits rising by 8% to approximately US$106.7 million[186]. Cash Flow and Investments - Net cash provided by operating activities was approximately US$83.9 million for 2022, down 52.0% from US$174.7 million in 2021[199]. - Net cash used in investing activities was approximately US$32.9 million in 2022, compared to US$28.2 million in 2021, indicating an increase of 26.4%[201]. - Net cash used in financing activities rose significantly to approximately US$183.1 million in 2022, compared to US$99.7 million in 2021, an increase of 83.7%[202]. - Cash and cash equivalents decreased by US$127.9 million to approximately US$232.2 million as of December 31, 2022, compared to the previous year[195]. Tax and Legal Matters - The total amount of unrecognized tax benefits as of December 31, 2022, was US$37.1 million, with accrued interest and penalties of US$6.8 million[176]. - The total amount of valuation allowance for deferred tax assets as of December 31, 2022, was US$20.2 million[175]. - The company has obtained a tax concession from the Cayman Islands for a period of 20 years from March 1, 2005, exempting it from taxes on profits, income, or gains[287]. - The company does not have a comprehensive income tax treaty with the United States, which may affect tax implications for U.S. holders[268]. Shareholder and Stock Information - The company repurchased 1.6 million ADSs for US$128.8 million at an average price of US$79.18 per ADS in 2022[205]. - The company repurchased $178.9 million of its ADSs at an average price of $81.91 per ADS under a $200 million repurchase plan announced in December 2021[316]. - As of March 31, 2023, there were 133,629,072 ordinary shares outstanding[250]. - No shareholder holds more than 5% of the company's outstanding ordinary shares[252]. Employee and Management Information - As of December 31, 2022, the total number of employees was 1,643, with 1,262 in Research and Development, representing a growth of 18.5% from 1,065 in 2021[246]. - The aggregate compensation for directors and senior executive officers for the year ended December 31, 2022, was approximately US$5.85 million[237]. - The company has no collective bargaining arrangements with employees and considers employee relations to be good[247]. Corporate Governance - The board of directors has established an audit committee, a compensation committee, and a nominating and corporate governance committee[229]. - The audit committee is responsible for overseeing the financial reporting processes and the audits of consolidated financial statements[230]. - The compensation committee reviews the performance and development of management in achieving corporate goals[231]. - The independent registered public accountants for the company are Deloitte & Touche, who have served since 2021[310]. Market and Competition - The company expects increased competition in the semiconductor market due to rapid technological changes and evolving industry standards[141].

Silicon Motion Announces Results for the Period Ended December 31, 2022 NEWS RELEASE Business Highlights • Fourth quarter sales decreased 20% Q/Q and 24% Y/Y and FY2022 sales grew 3% Y/Y • SSD controller sales: 4Q approximately flat Q/Q and FY2022 decreased 5% to 10% Y/Y • eMMC+UFS controller sales: 4Q decreased 35% to 40% Q/Q and FY2022 grew 15% to 20% Y/Y • SSD solutions sales: 4Q grew 20% to 25% Q/Q and FY2022 grew 30% to 35% Y/Y • Both SSD and eMMC+UFS controllers outperformed PC and smartphone markets ...

[Third Quarter 2022 Financial Results](index=1&type=section&id=Third%20Quarter%202022%20Financial%20Results) [Financial and Business Highlights](index=1&type=section&id=Financial%20and%20Business%20Highlights) Silicon Motion reported a 1% sequential and year-over-year sales decline to $250.8 million in Q3 2022, with mixed product line performance and pending acquisition approval Q3 2022 Financial Highlights | Metric | GAAP | Non-GAAP | | :--- | :--- | :--- | | **Net Sales** | $250.8 million (-1% Q/Q, -1% Y/Y) | $250.8 million (-1% Q/Q, -1% Y/Y) | | **Gross Margin** | 47.5% | 47.6% | | **Operating Margin** | 22.1% | 25.0% | | **Earnings per Diluted ADS** | $1.29 | $1.53 | - Business performance showed divergent trends: **SSD controller sales declined 15% to 20%** both Q/Q and Y/Y; **eMMC+UFS controller sales increased 5% to 10%** both Q/Q and Y/Y; **SSD solutions sales declined 5% to 10% Q/Q but increased 15% to 20% Y/Y**[1](index=1&type=chunk) - The company demonstrated its MonTitan™ enterprise-class PCIe Gen5 SM8366 SSD controller at the OCP Global Summit[1](index=1&type=chunk) - Securityholders approved the acquisition by MaxLinear on August 31, with closing pending regulatory approval from China's State Administration for Market Regulation (SAMR)[1](index=1&type=chunk) [Management Commentary](index=2&type=section&id=Management%20Commentary) CEO Wallace Kou noted challenging PC and smartphone end markets impacting SSD controller sales, while OEM market sales remained strong due to PCIe Gen 4 SSD controller design wins - End markets for PC and smartphones remain challenging, affecting controller sales; year-to-date, **SSD controller sales to the OEM market grew about 50% YoY**, while **sales to the channel market declined about 40% YoY**[5](index=5&type=chunk) - The ramp-up of PCIe Gen 4 SSD controllers for PC OEMs is a key driver, with **Gen 4 controllers accounting for over half of all SSD controller sales** in the previous quarter[5](index=5&type=chunk) - The company is making excellent progress with its MonTitan™ enterprise-class PCIe Gen5 SSD controller, expecting to begin sampling in early 2023 and be production-ready by the end of 2023[5](index=5&type=chunk) - Year-to-date sales for eMMC+UFS controllers have **grown by approximately one-third year-over-year**, driven by controller outsourcing trends and partnerships with NAND flash makers[5](index=5&type=chunk) [Detailed Financial Results](index=3&type=section&id=Detailed%20Financial%20Results) This section provides a comprehensive view of the company's financial performance, including key financial metrics, consolidated statements of income, balance sheets, and cash flows for Q3 2022 [Key Financial Results Summary](index=3&type=section&id=Key%20Financial%20Results%20Summary) The summary table shows a year-over-year and sequential decline in key profitability metrics for Q3 2022, with GAAP operating income falling to $55.4 million Q3 2022 Key Financial Results (in millions, except per ADS) | Metric | 3Q 2022 GAAP | 2Q 2022 GAAP | 3Q 2021 GAAP | 3Q 2022 Non-GAAP | 2Q 2022 Non-GAAP | 3Q 2021 Non-GAAP | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $250.8 | $252.4 | $254.2 | $250.8 | $252.4 | $254.2 | | **Gross Profit** | $119.1 | $133.6 | $127.2 | $119.3 | $133.8 | $127.8 | | **Operating Income** | $55.4 | $67.1 | $68.9 | $62.7 | $77.0 | $74.8 | | **Earnings per ADS** | $1.29 | $1.55 | $1.58 | $1.53 | $1.88 | $1.70 | [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) For Q3 2022, the company reported net sales of $250.8 million and a net income of $42.9 million, a decrease from $55.4 million in the prior year Q3 2022 vs Q3 2021 Income Statement (in thousands) | Metric | Three Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | **Net Sales** | $250,812 | $254,241 | | **Gross Profit** | $119,121 | $127,171 | | **Operating Income** | $55,370 | $68,891 | | **Net Income** | $42,891 | $55,424 | | **Earnings per Diluted ADS** | $1.29 | $1.58 | [Consolidated Balance Sheet](index=10&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2022, total assets increased to $961.5 million, driven by a significant rise in inventories to $305.6 million, while cash and cash equivalents decreased Balance Sheet Highlights (in thousands) | Account | Sep 30, 2022 | Sep 30, 2021 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $199,215 | $364,071 | | **Inventories** | $305,566 | $161,010 | | **Total current assets** | $796,872 | $784,970 | | **Total assets** | $961,482 | $921,574 | | **Total liabilities** | $267,125 | $214,352 | | **Shareholders' equity** | $694,357 | $707,222 | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q3 2022, net cash provided by operating activities was $42.6 million, leading to a net increase in cash of $17.5 million after investing and financing activities Q3 2022 Cash Flow Summary (in thousands) | Activity | Three Months Ended Sep 30, 2022 | | :--- | :--- | | **Net cash provided by operating activities** | $42,640 | | **Net cash used in investing activities** | ($8,568) | | **Net cash used in financing activities** | ($16,608) | | **Net increase in cash** | $17,464 | [Shareholder Returns and Acquisition Update](index=3&type=section&id=Shareholder%20Returns%20and%20Acquisition%20Update) The company paid a $0.50 per ADS quarterly dividend, totaling $16.5 million, and its pending acquisition by MaxLinear received shareholder approval, with regulatory approval from SAMR anticipated in Q2 or Q3 2023 - On August 25, 2022, the company paid **$16.5 million to shareholders**, representing the final $0.50 per ADS installment of its $2.00 per ADS annual dividend[10](index=10&type=chunk) - The acquisition by MaxLinear was approved by Silicon Motion's securityholders at an Extraordinary General Meeting on August 31, 2022[12](index=12&type=chunk) - The companies have refiled with China's State Administration for Market Regulation (SAMR) under normal procedures and expect a final determination in **Q2 or Q3 of 2023**, with closing subject to this regulatory approval[12](index=12&type=chunk) [Discussion of Non-GAAP Financial Measures](index=5&type=section&id=Discussion%20of%20Non-GAAP%20Financial%20Measures) This section details the company's use of non-GAAP financial measures, excluding items like stock-based compensation and M&A expenses, to provide a clearer view of core operational performance [Rationale for Non-GAAP Measures](index=5&type=section&id=Rationale%20for%20Non-GAAP%20Measures) The company uses non-GAAP measures to enhance understanding of its financial performance by excluding certain expenses and gains not indicative of core operating results - Non-GAAP results are provided to help investors make more meaningful period-to-period comparisons, identify business trends, and understand how management measures the company's performance[14](index=14&type=chunk) - Key adjustments to derive non-GAAP figures include excluding: stock-based compensation expense, SSD solutions restructuring charges, M&A transaction expenses related to the pending sale to MaxLinear, loss from settlement of litigation, and foreign exchange gains and losses[15](index=15&type=chunk)[16](index=16&type=chunk) [GAAP to Non-GAAP Reconciliation](index=8&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliation) For Q3 2022, non-GAAP operating profit was $62.7 million (25.0% margin) compared to GAAP operating profit of $55.4 million (22.1% margin), reflecting adjustments for various expenses Q3 2022 GAAP to Non-GAAP Reconciliation (in thousands, except per ADS) | Metric | GAAP | Adjustments | Non-GAAP | | :--- | :--- | :--- | :--- | | **Gross Profit** | $119,121 | $143 | $119,264 | | **Operating Profit** | $55,370 | $7,288 | $62,658 | | **Net Income** | $42,891 | $8,270 | $51,161 | | **Earnings per Diluted ADS** | $1.29 | $0.24 | $1.53 | [Company Overview and Forward-Looking Statements](index=12&type=section&id=Company%20Overview%20and%20Forward-Looking%20Statements) Silicon Motion is a global leader in NAND flash controllers for SSDs and embedded storage, with forward-looking statements cautioning on risks related to the MaxLinear acquisition and macroeconomic conditions - The company is a global leader in supplying NAND flash controllers for SSDs and the leading merchant supplier of eMMC and UFS embedded storage controllers for smartphones and IoT devices[28](index=28&type=chunk) - Forward-looking statements carry risks, including the possibility that the acquisition by MaxLinear may not be completed on the anticipated timeline or at all, potential failure to satisfy closing conditions like regulatory approvals, and the effect of the announcement on business relationships[29](index=29&type=chunk)[31](index=31&type=chunk)