Thu, Oct. 29, 1:43 PM
- Silicon Motion (SIMO -2.7%) is lower after beating Q3 estimates and guiding for Q4 revenue to be flat to up 3% Q/Q - that implies revenue of $95.4M-$98.3M, in-line with a $97.6M consensus. A broader chip stock selloff (triggered by weak guidance from NXP and others) could be weighing.
- Mobile Storage sales (flash and SSD controllers, as well as storage systems) rose 12% Y/Y to $80.9M; Mobile Communications sales (4G transceivers and mobile TV ICs) fell by $100K to $12.5M; Other revenue totaled $2M. Client SSD controllers (up over 40% Q/Q, now 20% of total revenue) were a strong point, as were eMMC controllers (benefited from higher SK Hynix orders tied to smartphone design wins). Two more auto OEM design wins were landed for SIMO's Ferri embedded storage products.
- Lifting EPS: Gross margin (non-GAAP) rose to 52.9% from 51% in Q2 and 51.6% a year ago, and topped guidance of 50%-52%. Q4 GM guidance is also at 50%-52%.
- Q3 results, PR
Wed, Oct. 28, 6:01 PM
Tue, Oct. 27, 5:35 PM
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Mon, Jul. 27, 7:14 PM
- Silicon Motion's (NASDAQ:SIMO) Q2 revenue (up 8% Q/Q) was in-line with the guidance provided in its July 7 pre-announcement (7%-9% Q/Q growth).
- Q3 guidance is for revenue to rise 5%-10% Q/Q. That implies a range of $91.6M-$95.9M, below a $95.6M consensus at the midpoint. On the other hand, full-year guidance is for 22%-27% sales growth, better than a 22.9% consensus at the midpoint.
- Client (PC) SSD controller sales were a Q2 strong point, rising 40% Q/Q and accounting for 15% of revenue. SIMO: "We are scaling sales to two NAND flash partners, a storage OEM customer, and a large number of module makers, for both PC OEM and channel markets ... Based on the number of sockets that we are winning, we believe that we will be the worlds largest merchant supplier of client SSD controllers by the end of this year."
- eMMC NAND controller sales were pressured by "lackluster demand" for smartphones/tablets in China and other markets. However, SIMO add it secured a record 60+ eMMC wins, and expects eMMC sales to rise Q/Q the rest of the year. Overall, mobile storage sales rose 11% Q/Q to $70.8M, and mobile communications sales (4G transceivers, mobile TV ICs) fell 5% to $14.4M.
- Financials: Gross margin (non-GAAP) fell to 51% from 52% in Q1 and 52.2% a year ago. However, with revenue growth outpacing opex growth, op. margin rose to 24.8% from 24.1% and 23.5%. Q3 and full-year GM guidance are both at 50%-52%. SIMO ended Q2 with $201.6M in cash, and no debt (compares with a $942M market cap).
- Shares haven't yet moved AH. They fell 3.4% in regular trading ahead of the report.
- Q2 results, PR
Mon, Jul. 27, 6:10 PM
Sun, Jul. 26, 5:35 PM
Tue, Jul. 7, 9:12 AM
- Silicon Motion (NASDAQ:SIMO) now expects to report Q2 revenue rose 7%-9% Q/Q, slightly favorable at the midpoint to prior guidance of 5%-10% and mostly above a consensus for 7.1% growth to $86.3M.
- Gross margin (non-GAAP) is expected to be near the midpoint of a prior 50%-52% guidance range. That compares with a GM of 52% in Q1 and 52.2% in Q2 2014.
- Shares haven't yet moved premarket. SIMO closed yesterday up 45% YTD. Full Q2 results arrive on July 27.
Mon, Apr. 27, 7:03 PM
- Silicon Motion (NASDAQ:SIMO) expects Q2 revenue to be up 5%-10% Q/Q. That implies a range of $84.6M-$88.7M vs. an $85.7M consensus. Full-year revenue is expected to be up 17%-25% Y/Y; consensus is for 22.5% growth.
- Though officially beating consensus, Q1 revenue of $80.6M matched guidance (provided in SIMO's April 8 pre-announcement) for sales to be roughly flat from a Q4 level of $80.5M.
- SIMO: "Our first quarter revenue benefited from strong client SATA 3 SSD controller sales momentum and stable eMMC controller sales. Client SSD controller sales doubled sequentially ... we expect a new major SSD program with our controllers, again for both channel and OEM markets, to begin shipping in the second quarter. Our storage OEM partner began shipping SSDs to three global tier-1 PC OEMs in the first quarter and recently started shipping to two additional OEMs."
- Mobile storage (flash controller) sales rose 41% Y/Y to $63.6M. Mobile communications (4G transceiver and TV IC) sales rose 176% to $15.2M. Gross margin (non-GAAP) was 52% vs. 52.5% in Q4 and 48.6% a year ago. Op. margin was 24.1% vs. 26% in Q4 and 16.7% a year ago. Q2 GM guidance is at 50%-52%; full-year GM guidance is still at 49.5%-51.5%.
- Shares have risen to $31.70 AH. They fell hard on Friday after SIMO announced it's buying Chinese SSD/storage array vendor Shannon Systems and (perhaps more importantly) Northland Securities reported SK Hynix is planning to launch its own UFS 2.0 flash controllers.
Mon, Apr. 27, 6:03 PM
Sun, Apr. 26, 5:35 PM
Wed, Apr. 8, 9:16 AM
- Silicon Motion (NASDAQ:SIMO) expects Q1 revenue to be roughly flat Q/Q, putting it at the high end of guidance for flat to -5% growth; consensus is for revenue to fall 3% Q/Q to $78.4M.
- Likewise, gross margin is expected to be in a 51%-52% range; guidance was at 50%-52%. GM was at 52.5% in Q4 and 48.6% in Q1 2014.
- Shares have risen to $29.00 premarket, just $1.50 below their 52-week high. Full Q1 results arrive on April 27.
Mon, Jan. 26, 6:59 PM
- Silicon Motion (NASDAQ:SIMO) expects Q1 revenue to be flat to down 5% Q/Q. That implies a range of $76.5M-$80.5M, mostly above a $76.9M consensus.
- For the whole of 2015, SIMO expects revenue to grow 15%-25%; consensus is for 21.1% growth.
- Q4 gross margin was 52.5%, down from 52.9% in Q3 but up from 48.8% a year ago. GM is expected to fall to 50%-52% in Q1, and be in a 49.5%-51.5% range for the whole of 2015 (down from 2014's 51.8%).
- Embedded storage IC sales rose 70% Y/Y in Q4, driven by eMMC and client SSD controller demand. eMMC now makes up 40% of total revenue. Micron is an SSD controller client, and three tier-1 PC OEMs are using SSDs featuring SIMO's controllers.
- Operating expenses rose 58% Y/Y to $21.4M. SIMO had $195.2M in cash/investments at quarter's end, and no debt.
- Shares are at $25.60 in AH trading.
- Q4 results, PR
Mon, Jan. 26, 6:08 PM
Sun, Jan. 25, 5:35 PM
Thu, Jan. 8, 10:51 AM| Thu, Jan. 8, 10:51 AM | Comment!
Oct. 29, 2014, 7:04 PM
- Silicon Motion (NASDAQ:SIMO) expects revenue in seasonally weaker Q4 to be down 5%-10% Q/Q. That implies a range of $77.8M-$82.2M, mostly above a $77.9M consensus. Expectations had risen following SIMO's Oct. 7 guidance hike.
- Gross margin rose to 52.9% in Q3 from 52.2% in Q2 and 48.8% a year ago. GM is expected to fall to the 50%-52% range in Q4.
- GAAP opex rose 63% Y/Y to $26.7M; R&D spend accounted for $17.7M of the total.
- The chipmaker says it's "well positioned for 2015 based on our growing pipeline of design wins" in the eMMC (NAND flash) and SSD controller markets.
- Q3 results, PR
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