FX.co ★ Silicon Motion Updates Sequential Q3 Revenue Outlook; Pre-Market Stock-Up

Silicon Motion Technology Corporation (SIMO) announced on Tuesday that its revenue growth for the third quarter is anticipated to exceed the midpoint of its previous guidance, which was set between $205 million and $216 million. The company also revised its expectations for the gross margin, which is now projected to be in the upper half of the original range of 46% to 47%. Silicon Motion plans to disclose its financial results for the third quarter on October 30. In pre-market trading on the Nasdaq, SIMO shares were up by 4.49%, priced at $62.90.