Silicon Motion Announces Sequential Revenue Growth Is Expected To Be Slightly Above The High-End Of Its Original Guidance Range Of 15%-20%; Gross Margin (Non-GAAP) Is Expected To Be Similar Sequentially And In-line With The Original Guidance Range
Portfolio Pulse from Benzinga Newsdesk
Silicon Motion Technology Corporation (NASDAQ:SIMO) has announced that its Q3 2023 sequential revenue growth is expected to be slightly above its original guidance range of 15%-20%. The company's gross margin (non-GAAP) is expected to be similar sequentially and in-line with the original guidance range. The company will release its Q3 2023 financial results on November 1, 2023.
October 06, 2023 | 12:05 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Silicon Motion's Q3 2023 revenue growth is expected to exceed its original guidance, which could positively impact its stock price.
Companies that exceed their revenue guidance typically see a positive reaction in their stock price as it indicates stronger than expected performance. Therefore, Silicon Motion's announcement could lead to a short-term increase in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100