Silicon Motion issues Q3 revenue warning, shares -1.8% premarket

|About: Silicon Motion Technology C... (SIMO)|By:, SA News Editor

Silicon Motion (SIMO) now expects its Q/Q Q3 revenue growth to be at the low end of a prior guidance range of -2.5% to +2.5%. However, gross margin is expected to be within the upper half of a prior guidance range of 47%-49%. The consensus is for revenue to grow 0.5% Q/Q to $58.6M. (PR)

No explanation is given for the revenue shortfall, which comes with shares trading near their highest levels since March. Q3 results arrive on Oct. 24.