Business Highlights Second quarter of 2024 sales increased 11% Q/Q and increased 50% Y/Y SSD controller sales:  2Q of 2024 increased 0% to 5% Q/Q and increased 25% to 30% Y/YeMMC+UFS controller sales:  2Q of 2024 increased 25% to 30% Q/Q and increased 190% to 195% Y/YSSD solutions sales:  2Q of 2024 increased 20% to 25% Q/Q and decreased 5% to 10% Y/Y Financial Highlights  2Q 2024 GAAP2Q 2024 Non-GAAP• Net sales$210.7 million (+11% Q/Q, +50% Y/Y)$210.7 million (+11% Q/Q, +50% Y/Y)• Gross margin45.9%46.0%•  ...

Business Highlights Second quarter of 2024 sales increased 11% Q/Q and increased 50% Y/Y SSD controller sales:  2Q of 2024 increased 0% to 5% Q/Q and increased 25% to 30% Y/YeMMC+UFS controller sales:  2Q of 2024 increased 25% to 30% Q/Q and increased 190% to 195% Y/YSSD solutions sales:  2Q of 2024 increased 20% to 25% Q/Q and decreased 5% to 10% Y/Y Financial Highlights  2Q 2024 GAAP2Q 2024 Non-GAAP• Net sales$210.7 million (+11% Q/Q, +50% Y/Y)$210.7 million (+11% Q/Q, +50% Y/Y)• Gross margin45.9%46.0%•  ...

Silicon Motion (SIMO) has been beaten down lately with too much selling pressure. While the stock has lost 14.5% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator ...

Silicon Motion Technology Corporation (SIMO) is set to report second-quarter 2024 results on Aug 1, after the closing bell. In the last reported quarter, the company delivered an earnings surprise of 10.34%. It pulled off a trailing four-quarter earnings surprise of 4.72% on average. The leading developer of microcontroller ICs for NAND flash storage devices is expected to report a top-line expansion in the second quarter of 2024, backed by healthy demand for SSD (Solid State Drive) and eMMC+UFS controllers ...

In the latest market close, Silicon Motion (SIMO) reached $76.03, with a +1.18% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 1.08%. Meanwhile, the Dow experienced a rise of 0.32%, and the technology-dominated Nasdaq saw an increase of 1.58%.Prior to today's trading, shares of the chip company had lost 8.91% over the past month. This has lagged the Computer and Technology sector's loss of 4.77% and the S&P 500's gain of 0.43% in that time.Investors will be eagerly wat ...

Silicon Motion (SIMO) closed the most recent trading day at $79.64, moving -0.23% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.64%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.The chip company's stock has dropped by 4.15% in the past month, falling short of the Computer and Technology sector's gain of 1.06% and the S&P 500's gain of 3.82%.The investment community will be closely monitoring the performance of Silicon Mot ...

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. 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, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the trad ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Silicon Motion (SIMO) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Silicon Motion currently ha ...

Silicon Motion Technology Corporation (SIMO) recently released its preliminary second-quarter 2024 results, providing insights into its business operations amidst a challenging macroeconomic environment. The company is scheduled to release second-quarter results on Aug 1.In the second quarter, Silicon Motion expected record revenues, slightly above the high-end of its guidance level of $199 million to $208 million. This indicates solid growth from $140.4 million reported in the year-ago quarter. The company ...

TAIPEI, Taiwan and MILPITAS, Calif., July 08, 2024 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NASDAQ:SIMO) ("Silicon Motion" or the "Company"), a global leader in NAND flash controllers for solid state storage devices, announces that based on its preliminary second quarter financial results, sequential revenue growth is expected to be slightly above the high-end of its original guidance range of $199 million to $208 million, which the company issued on May 3, 2024. Gross margin (non-GAAP) is ...