Silicon Motion (SIMO) Gains As Market Dips: What You Should Know

Silicon Motion (SIMO) Gains As Market Dips: What You Should Know
This story originally appeared on Zacks

Silicon Motion (SIMO) closed at $92.01 in the latest trading session, marking a +0.97% move from the prior day. This change outpaced the S&P 500’s 0.1% loss on the day. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq lost 0.47%.

Silicon Motion (SIMO) Gains As Market Dips: What You Should Know – Zacks

Heading into today, shares of the chip company had gained 0.69% over the past month, outpacing the Computer and Technology sector’s loss of 1% and lagging the S&P 500’s gain of 3.67% in that time.

Investors will be hoping for strength from Silicon Motion as it approaches its next earnings release. The company is expected to report EPS of $1.74, up 102.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $246.62 million, up 71.38% from the year-ago period.

It is also important to note the…

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