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| 1 Comment
Sun, Jan. 25, 5:35 PM
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
Oct. 29, 2014, 6:03 PM| Comment!
Oct. 7, 2014, 9:12 AM
- Silicon Motion (NASDAQ:SIMO) now expects Q3 revenue to be up 23%-25% Q/Q, above prior guidance for 15%-20% growth.
- Gross margin is expected to be in a 52%-53% range, above prior guidance of 50%-52%. Q2 GM was 52.2%.
- Full Q3 results arrive on Oct. 29. SIMO has been seeing strong demand for its eMMC NAND flash controllers from Android OEMs, an has also been growing sales of SSD controllers and 4G RF transceivers.
Jul. 28, 2014, 6:37 PM
- Silicon Motion (NASDAQ:SIMO) expects Q3 revenue to be up 15%-20% Q/Q. That's well above a consensus for revenue to grow 3% Q/Q to $71.7M. The chipmaker also now expects 22%-27% full-year revenue growth, above a 16.7% consensus.
- Q2 revenue was in-line with SIMO's revised guidance. SSD/embedded revenue grew over 55% Q/Q, and made up "well over 50%" of total revenue. Within the segment, eMMC controller revenue grew 65%. SIMO asserts its eMMC controllers are now used by all top-10 smartphone OEMs not named Apple.
- The company has also begun shipping its LTE-Advanced RF transceiver to its Korean phone partner (Samsung?), and says it has scored two more LTE-Advanced design wins with the partner.
- SSD controller revenue grew rapidly, and a new SSD platform win was scored with a PC OEM that will go into production in 1H15. The company also expects multiple program wins with SSD vendors to ramp in 1H15.
- Q2 gross margin was 52.2%, up from 48.6% in Q1 and 48.4% a year ago. GM is expected be in a 50%-52% range in Q3, and a 49.5%-51.5% range for the whole of 2014.
- Q2 results, PR
Jul. 28, 2014, 6:05 PM| Comment!
Jul. 27, 2014, 5:35 PM
Jul. 7, 2014, 9:43 AM
- Silicon Motion (SIMO) now expects Q2 revenue to be up 30%-32% Q/Q, well above prior guidance for 10%-15% growth. The consensus is for revenue to grow 11.7% Q/Q to $59M.
- Q2 gross margin guidance has been hiked to 51%-52% from 48%-50%. SIMO previously also guided for a full-year GM of 48%-50%.
- Healthy industry-wide NAND flash demand likely gave a lift to SIMO's NAND controller sales.
- Shares have made new 52-week highs. Full Q2 results are due on July 28.
Apr. 29, 2014, 12:00 PM
- Silicon Motion (SIMO -6.3%) expects Q2 revenue to be up 10%-15% Q/Q; that's largely favorable to a consensus for 10.7% growth. But in spite of the Q2 forecast and strong Q1 sales, the chipmaker is merely reiterating full-year guidance for 5%-15% Y/Y growth (consensus is at 10.4%).
- As forecast in its April 7 pre-announcement, SIMO's Q1 revenue was near the high end of its guidance range, and its gross margin (48.8%, -20 bps Q/Q and +780 bps Y/Y) at the low end.
- Both Q2 and full-year GM are expected to be in a range of 48%-50%. Opex guidance has been raised to $74M-$79M from a prior $70M-$75M.
- SIMO says it has converted the majority of its eMMC NAND flash controller sales to the relatively advanced eMMC 4.5 standard, and has begun mass-producing controllers supporting the next-gen eMMC 5.0 standard.
- The company also claims solid module/OEM design win activity for its SSD controllers, and says a Korean OEM (presumably Samsung or LG) has adopted SIMO's LTE-Advanced transceiver for a phone design.
- Q1 results, PR
Apr. 28, 2014, 6:04 PM| Comment!
Apr. 27, 2014, 5:35 PM
Apr. 7, 2014, 10:55 AM
- 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.
Feb. 26, 2014, 11:24 AM
- Chip stocks are outperforming (SOXX +1.1%) after Avago (AVGO +5.1%) posted an FQ1 beat and strong margin numbers (albeit while guiding light, as many expected), and STMicroelectronics (STM +3.9%) exec Paul Grimme states his company's European sales are stabilizing, with Germany leading the way.
- Notable winners: AMBA +5.4%. AMCC +5.2%. CRUS +3.3%. SWKS +3%. QUIK +4.1%. INVN +2.7%. RFMD +3.5%. TQNT +3%. SIMO +2.7%. CAVM +3.6%. Nearly all of the aforementioned names have strong mobile and/or telecom equipment exposure.
- RBC has hiked its Avago PT to $66 from $64, and says the chipmaker remains its "top play on China and global LTE deployments." With LSI in tow, the firm thinks FY15 (ends Oct. '15) EPS will top $5.
- Morgan Stanley ($68 PT) is confident Avago can raise LSI's op. margin to 30% from 17% over the next few years, much as the company has doubled its own op. margin to 30% post-LBO.
- Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
SIMO vs. ETF Alternatives
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