Northland Capital Markets siad the firm is anticipating the release of Silicon Motion Technology Corp. (NASDAQ: SIMO)’s preliminary results at some point this week.
Analyst Tom Sepenzis expressed optimism leading in, saying it should be an in-line-to-better Q3 for Silicon Motion. The analyst noted two main positives: continued handset strength in China and an on going rebound in the PC market.
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“While NAND flash supply has been tightening, we do not believe it will have a negative impact on the current quarter or December outlook,” said Sepenzis.
The analyst is expecting $145.5 million in revenue and an EPS of $0.90 in Q3, slightly above consensus estimates ($144.7 million and an EPS of $0.89).
Northland has an Outperform rating and $60 price target for Silicon Motion.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.