Silicon Motion (SIMO) has released an update.
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Silicon Motion Technology Corporation reported a mixed first quarter for 2024, with sales dipping 6% from the previous quarter but soaring 53% compared to last year. Despite a stable demand for its client SSD revenue, the company experienced a drop in net income both on a GAAP and non-GAAP basis. However, CEO Wallace Kou expressed confidence in the company’s growth and profitability for the remainder of the year, backed by strong product offerings and strategic customer partnerships.
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