Silicon Motion Technology Corporation (SIMO) said, based on preliminary first quarter results, revenue is estimated to grow approximately 25% sequentially, well in excess of the original 7% to 12% guidance range which the company previously issued. Non GAAP gross margin is projected to be at the high-end of the original 48.0% to 50.0% guidance range.

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Silicon Motion Technology Corporation (SIMO) said, based on preliminary first quarter results, revenue is estimated to grow approximately 25% sequentially, well in excess of the original 7% to 12% guidance range which the company previously issued. Non GAAP gross margin is projected to be at the high-end of the original 48.0% to 50.0% guidance range.

RTTNews | Apr 8, 2021 08:26AM EDT

08:25 Thursday, April 8, 2021 (RTTNews.com) - Silicon Motion Technology Corporation (SIMO) said, based on preliminary first quarter results, revenue is estimated to grow approximately 25% sequentially, well in excess of the original 7% to 12% guidance range which the company previously issued. Non GAAP gross margin is projected to be at the high-end of the original 48.0% to 50.0% guidance range.

The company will release its first quarter results after the market closes on May 5, 2021.

Shares of Silicon Motion Technology Corp. were up 5% in pre-market trade on Thursday.

Read the original article on RTTNews ( https://www.rttnews.com/3183473/silicon-motion-technology-to-report-q1-revenue-above-guidance-range-quick-facts.aspx)

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