On May 26, Silicon Motion Technology rose 5.02% overnight, trading at $290.00/share, with trading volume of $121,800.

On the news front, Silicon Motion recently announced it successfully obtained ISO 26262 automotive functional safety process certification, covering functional safety management, system architecture, hardware and software development across the full workflow, further solidifying its competitive position in intelligent cockpit, ADAS, and AI-driven automotive storage systems.

Meanwhile, the semiconductor sector saw continued positive momentum, with peer Micron Technology rising 4.38%, bolstering storage chip sector sentiment. On fundamentals, the company reported Q1 results that beat expectations across the board with profits doubling and forward guidance raised. Management previously noted that under the AI wave, global storage chips face severe supply shortages expected to persist through 2030, with the long-term demand thesis intact.

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