Silicon Motion (SIMO) in Focus: Stock Gains 5.1% in Session

Silicon Motion Technology Corp. SIMO was a big mover last session, as the company saw its shares rise more than 5% on the day. The stock moved up after the company announced encouraging preliminary guidance for the second quarter of 2016. This led to solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $42.82 to $47.94 over the past one month time frame.

None of the estimates for this Electronic components - semiconductor industry stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday's price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Silicon Motion has a Zacks Rank #3 (Hold), while its  Earnings ESP is 0.00%.

However, a better-ranked stock in the same space is On Track Innovations Ltd. OTIV, sporting a Zacks Rank #1 (Strong Buy).

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