News about SIMO

Silicon Motion Technology (SIMO) makes NAND flash controllers that are vital for AI infrastructure and works with major memory makers including Micron, Samsung, SK Hynix and Sandisk. Second-quarter revenue more than doubled year over year, net income rose from $16.3 million to $136.1 million, and the stock trades at a 19.6 forward P/E. The company guided for up to $541 million in third-quarter revenue, a 20% sequential jump, and has a history of beating its guidance. The author argues the 20% drop over the past week reflected macroeconomic issues rather than company fundamentals, and that the company will likely beat guidance again when it reports on Oct. 29.