Silicon Motion up slightly after updating guidance

Silicon Motion (SIMO +0.7%) now expects its Q1 revenue to be near the high end of a prior guidance range of 0% to -10% Q/Q growth. At the same time, the chipmaker expects gross margin to be within the lower half of a prior 48%-50% guidance range.

SIMO's Q1 revenue consensus ($50.3M) implies a 4% Q/Q drop. Q1 results arrive on April 28.

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