10:32 AM EDT, 10/08/2024 (MT Newswires) -- Silicon Motion Technology ( SIMO ) said Tuesday that based on preliminary Q3 results, it expects revenue to be above the midpoint of its guidance range of $205 million to $216 million.

Analysts polled by Capital IQ expect $209.2 million.

The company said its gross margin is expected to be in the upper half of its original guidance range of 46.0% to 47.0%. Analysts surveyed by Capital IQ expect 46.4%.

Silicon Motion ( SIMO ) is scheduled to release Q3 results after market close on Oct. 30.

Silicon Motion ( SIMO ) shares were up 1.3% in recent trading.

Price: 61.50, Change: +1.30, Percent Change: +2.16