Down sharply AH yesterday thanks to its Q4 miss and weak Q1 guidance, Silicon Motion (SIMO +2.5%) is now higher. Needham has come to the chipmaker's defense, citing valuations and upcoming catalysts. During the earnings call, management forecast strong 2013 demand for SIMO's eMMC flash memory controllers from the mobile device market, aided by a next-gen part entering mass-production. It also thinks LTE transceiver sales can grow 50%-75% in 2013, as Samsung begins using the chips in phones meant for markets other than Korea.
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