The company indicated that its revenue growth would likely be 11–13 percent sequentially compared to its initial guidance of 0–5 percent disclosed on July 22. Similarly, adjusted gross margin forecast is increased to 48–49 percent from the earlier outlook of 46–48 percent.
Silicon Motion will release its third quarter results on October 27 after the market closes; the conference call is scheduled for the next day.
Others In The Space
A few weeks back, Intel Corporation INTC boosted its revenue and gross margin outlook for the third quarter citing improved PC supply chain inventory. The company lifted its revenue forecast from $14.9 billion plus or minus $500 million to $15.6 billion plus or minus $300 million.
On Friday, Taiwan Semiconductor Mfg. Co. Ltd. (ADR) TSM reported 39.0 percent year-over-year increase in revenue for September. On a month-over-month basis, the company recorded 4.9 percent drop in revenue.
At Last Check ...
- Intel was up 0.04 percent at $38.08.
- Silicon Motion was up 3.95 percent at $53.40.
- Taiwan Semiconductor was down 0.03 percent at $30.76.
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