Silicon Motion (SIMO) -4.1% after warning it expects Q2 revenue to be flat Q/Q compared with Q1's $57.4M, below prior guidance of a 5%-10% increase (which itself was well below consensus when issued) and a consensus of $61.4M. Gross margin, however, is expected to be in the 47%-49% range, above prior guidance of 45%-47%. The chipmaker chalks up the revenue shortfall to tight NAND flash supply, which lead to lower-than-expected sales of memory card and USB flash drive controllers. Embedded NAND controller sales beat expectations.
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