On October 22, Silicon Motion Technology fell 5.08% in Pre-Market Trading, trading at $211.0 per share, with turnover of $142,900.
The move coincided with broad weakness across semiconductor and memory-related stocks, even as the market remained constructive on the company ahead of its October 28 post-market earnings release.
Consensus expectations ahead of the report call for quarterly 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%. Still, the latest trading backdrop turned risk-off for the group, with Intel, Advanced Micro Devices, Micron Technology, Broadcom, and NVIDIA all lower, suggesting sector pressure was the more immediate driver of the pre-market decline.
(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.)