Northland Capital Markets siad the firm is anticipating the release of Silicon Motion Technology Corp. SIMO’s preliminary results at some point this week.
Analyst Tom Sepenzis expressed optimism leading in, saying it should be an in-line-to-better Q3 for Silicon Motion. The analyst noted two main positives: continued handset strength in China and an on going rebound in the PC market.
“While NAND flash supply has been tightening, we do not believe it will have a negative impact on the current quarter or December outlook,” said Sepenzis.
The analyst is expecting $145.5 million in revenue and an EPS of $0.90 in Q3, slightly above consensus estimates ($144.7 million and an EPS of $0.89).
Northland has an Outperform rating and $60 price target for Silicon Motion.
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