On June 22, Silicon Motion Technology rose 5.54% in regular trading, trading at $348.51/share, with turnover of $71.33 million, extending its recent strong momentum.

On the news front, the memory storage sector supply shortage narrative continues to escalate. The company's Senior Vice President Nelson Duann previously warned that the current NAND shortage is only the beginning, with data centers absorbing 70-80% of production capacity. New fabs under construction will not deliver meaningful output until at least late next year, meaning the supply crunch will persist through at least next year and worsen into the following year.

Meanwhile, CITIC Securities initiated coverage on Silicon Motion with a Buy rating, citing the company's position as the global leading independent SSD controller chip maker. The firm highlighted Silicon Motion's technological edge with its 6nm PCIe 5.0 controller chips and market share gains driven by NAND manufacturers exiting the space. The company reported doubled profits in Q1 and management raised forward guidance, reinforcing fundamental support.

Within the Semiconductors sector, Micron Technology rose 3.57%, NVIDIA rose 0.93%, and Intel rose 2.24%, reflecting broad sector strength in storage-related names.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)