Silicon Motion Technology Corp. ( SIMO ) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The upside came after the company announced that the first-quarter revenues are likely to be better than expected which led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $25.76 to $30.49 in the past one-month time frame.
The company has seen no estimate revision over the past 30 days, while the Zacks Consensus Estimate remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Silicon Motion currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the same space is Avago Technologies Limited ( AVGO ) sporting a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
