On October 22, Silicon Motion Technology fell 5.08% in Regular Trading, trading at $208.765 per share, with turnover of $10.9797 million.
The move coincided with broad weakness across semiconductor and storage names ahead of the company’s October 28 post-market earnings release, despite previously constructive expectations for the quarter.
Market expectations cited for the upcoming report point to revenue of $529 million, up 135.75% year over year, adjusted EPS of $3.33, up 310.38%, and EBIT of $139 million, up 363.57%. Even so, peer pressure weighed on sentiment, with Intel, Advanced Micro Devices, Broadcom, NVIDIA and Micron Technology all falling during the session, reinforcing sector-led selling in Silicon Motion Technology.
(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.)