Silicon Motion Technology Sees Q3 Revenue $205M-$216M Vs $212.62M Est.; FY24 Revenue $800M-$830M Vs $822.67M Est.
Portfolio Pulse from Benzinga Newsdesk
Silicon Motion Technology has provided its Q3 and FY24 revenue guidance, with Q3 revenue expected to be between $205M-$216M and FY24 revenue between $800M-$830M. The company is optimistic about its long-term growth due to new programs with flash maker customers and strong NAND OEM business, despite softness in the retail SSD market.
August 01, 2024 | 10:04 pm
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Silicon Motion Technology has provided its Q3 and FY24 revenue guidance, with Q3 revenue expected to be between $205M-$216M and FY24 revenue between $800M-$830M. The company is optimistic about its long-term growth due to new programs with flash maker customers and strong NAND OEM business, despite softness in the retail SSD market.
The revenue guidance for Q3 and FY24 is in line with or slightly above estimates, indicating positive sentiment. The company's focus on new programs with flash maker customers and a strong NAND OEM business suggests potential for long-term growth, despite challenges in the retail SSD market.
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