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Silicon Motion Technology Corporation (SIMO), together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. 
It offers SSDs used in PCs and other devices, as well as eMMC and UFS mobile embedded storage used in smartphones and IOT devices. The company also provides enterprise-grade SSDs used in data centers; and small form-factor specialized SSDs used in industrial, commercial, and automotive applications.
It markets its controllers under the SMI brand; enterprise-grade SSDs under the Shannon Systems brand; and single-chip industrial-grade SSDs under the Ferri SSD and Ferri-eMMC brands.
The company markets and sells its products through direct sales personnel and independent electronics distributors to flash makers, module makers, hyperscalers, and OEMs.
It operates in Taiwan, the United States, South Korea, China, Malaysia, Singapore, and internationally.
Silicon Motion Technology Corporation reported 3rd Quarter September 2021 earnings of $1.68 per share on revenue of $254.2 million. The consensus earnings estimate was $1.64 per share on revenue of $243.6 million. Revenue grew 101.7% on a year-over-year basis.
The company said it expects fourth quarter revenue of $254.0 million to $267.0 million. The current consensus revenue estimate is $254.88 million for the quarter ending December 31, 2021.
The Company is scheduled to report it's results on Wednesday, tomorrow. Ahead of that shares are heading higher in an upward trading channel. The channel is supported by the stock's 50-day moving average.
Entry Point: $87.00
Stop Loss: $83.00
Trading Range: $47.50 to $96.89
Target Price: $96.00
