- Silicon Motion Technology Corp SIMO estimates the Q2 revenue to grow 20% quarter-on-quarter as per preliminary results. The updated guidance surpasses the original 5-10% growth guidance issued on May 6.
- The non-GAAP gross margin is likely to be at least half a percentage point above the high-end of the original 48% - 50% guidance range.
- Silicon will release its Q2 2021 financial results after the market closes on July 29.
- Price action: SIMO shares traded higher by 1.57% at $62.17 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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