Silicon Motion sees FY24 revenue $765M-$800M, consensus $767.71M

Sees FY24 GAAP gross margin 44.9%-46.9% or non-GAAP 45.0%-47.0%; and GAAP operating margin 10.4%-12.8% and non-GAAP 14.7%-16.7%. “We expect sustained growth across our business in 2024, driven by wins with our module maker customers and significant design wins and share gains with our flash maker customers, as they look to outsource more controllers to effectively address a broader range of end-markets,” said Wallace Kou, President and CEO of Silicon Motion. “We are confident that our strong backlog and project ramps will be the foundation for strong growth this year. These new wins for our eMMC+UFS and SSD controllers will grow our relationship with our flash maker partners this year and increase revenue from these customers by approximately 50%.”