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Silicon Motion (SIMO) -4.1% after warning it expects Q2 revenue to be flat Q/Q compared with...

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.
Comments (1)
  • Philip Marlowe
    , contributor
    Comments (920) | Send Message
     
    Thankfully it has mostly recovered. This stock is being bought for the >5% yield until Samsung figured out how to make modems which should cause SIMO to return to high growth rates.
    2 Jul 2013, 11:16 AM Reply Like
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