Silicon Motion Technology Corporation (SIMO) reported solid third-quarter 2024 results, with both adjusted earnings and revenues surpassing the Zacks Consensus Estimate. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The leading merchant supplier of client SSD (Solid State Drive) controllers witnessed top-line growth driven by healthy demand trends.SIMO’s Net IncomeOn a GAAP basis, net income was $20.8 million or 62 cents per American depositary share (ADS) compared with $10.6 mill ...

Business Highlights Third quarter of 2024 sales increased 1% Q/Q and increased 23% Y/Y SSD controller sales: 3Q of 2024 were flat Q/Q and increased 20% to 25% Y/YeMMC+UFS controller sales: 3Q of 2024 increased 0% to 5% Q/Q and increased 40% to 45% Y/YSSD solutions sales: 3Q of 2024 increased 5% to 10% Q/Q and increased 5% to 10% Y/Y Financial Highlights  3Q 2024 GAAP3Q 2024 Non-GAAP• Net sales$212.4 million (+1% Q/Q, +23% Y/Y)$212.4 million (+1% Q/Q, +23% Y/Y)• Gross margin46.7%46.8%• Operating margin11.5% ...

TAIPEI, Taiwan and MILPITAS, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion” or the “Company”), a global leader in designing and marketing NAND flash controllers for solid state storage devices, today announced, following a search process, that Jason Tsai, currently the Interim Chief Financial Officer and VP of Investor Relations and Finance of the Company, has been appointed the Chief Financial Officer, effective October 28, 2024. Mr. Tsai ...

Silicon Motion (SIMO) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this chip company have returned -2.3% over the past month versus the Zacks S&P 500 composite's +1.5% change. The Zacks Computer - Integrated Systems industry, to which Silicon Motion belongs, has gained 3.1% over this period. Now the key question is: Where could the stock be headed in the near term?Although ...

Silicon Motion (SIMO) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this chip company have returned +3.7%, compared to the Zacks S&P 500 composite's +5.4% change. During this period, the Zacks Computer - Integrated Systems industry, which Silicon Motion falls in, has gained 52.1%. The key question now is: What could be the stock's f ...

In the latest trading session, Silicon Motion (SIMO) closed at $57.09, marking a +0.25% move from the previous day. This move outpaced the S&P 500's daily loss of 0.19%. Meanwhile, the Dow lost 0.7%, and the Nasdaq, a tech-heavy index, added 0.04%.The the stock of chip company has fallen by 8.29% in the past month, lagging the Computer and Technology sector's gain of 0.73% and the S&P 500's gain of 1.95%.Investors will be eagerly watching for the performance of Silicon Motion in its upcoming earnings disclo ...

Silicon Motion (SIMO) ended the recent trading session at $55.86, demonstrating a +1.21% swing from the preceding day's closing price. This change lagged the S&P 500's 1.7% gain on the day. Meanwhile, the Dow experienced a rise of 1.26%, and the technology-dominated Nasdaq saw an increase of 2.51%.The chip company's stock has dropped by 15.74% in the past month, falling short of the Computer and Technology sector's loss of 1.45% and the S&P 500's gain of 1.27%.Investors will be eagerly watching for the perf ...

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?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Silicon Motion (SIMO) .Silicon Motion currently has an average br ...

Silicon Motion (SIMO) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this chip company have returned -27.9% over the past month versus the Zacks S&P 500 composite's -5.9% change. The Zacks Electronics - Semiconductors industry, to which Silicon Motion belongs, has lost 18.1% over this period. Now the key question is: Where could the stock be headed in th ...

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