Silicon Motion Technology Shares Gain on First Step of EU Cyber Compliance

Dow Jones

12 hours ago

Shares of Silicon Motion Technology Corp. rose after the company said it completed the first phase of its compliance program for the European Union Cyber Resilience Act.

Shares were up 7.3% to $252.99 on Friday. The stock has risen 173% this year.

The flash-memory controller supplier on Friday said its product cybersecurity controls and processes are aligned with the CRA's incident-reporting obligations, which are set to take effect next week.

The company said it has also stood up vulnerability-handling processes for areas covered by the CRA. The steps are in preparation for the CRA to become fully applicable in December 2027, the company said.

"This milestone underscores Silicon Motion's commitment to product security and provides customers with a trusted foundation for addressing evolving cybersecurity requirements for products with digital elements in the European Union," the company said.

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