Why Silicon Motion Technology Stock Is Skyrocketing Today
Silicon Motion Technology (NASDAQ: SIMO) stock is posting monster gains in Wednesday's trading. The company's share price was up 30.6% as of 12:45 p.m. ET and had been up as much as 40.6% earlier in the session.
Silicon Motion published its first-quarter results before the market opened this morning and reported results that crushed the market's expectations. Sales and earnings far exceeded Wall Street's forecasts, and the company issued encouraging commentary on the state of the business.
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Source Fool.com
