Silicon Motion Posts $560.2M in Third-Quarter Revenue
SIMO has more than doubled off its 52-week low of $79.76.
Summary
Silicon Motion reported third-quarter revenue of $560.2 million, the first hard number from the quarter after the company flagged the October 28 release date in an early-October 6-K. Earnings per diluted ADS came in at $1.91, and the company guided fourth-quarter revenue to $588 million to $616 million. Context matters here: the company just upsized and closed a $1.15 billion 0% convertible offering in August and raised its annual dividend 15% to $2.30 per ADS in mid-October, so the balance sheet is freshly capitalized heading into this print. The conference call will carry the margin detail that actually sets the stock's direction.
At the time of this announcement, SIMO was trading at $213.21 on NASDAQ in the Technology sector, with a market capitalization of approximately $6.9B. The 52-week trading range was $79.76 to $355.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.