Shares of Silicon Motion Technology (SIMO), a leading developer of NAND flash controllers, plummeted 5.07% on Friday morning as the company's first-quarter 2025 revenue and margin guidance fell short of market expectations.
In its fourth-quarter 2024 earnings report, Silicon Motion Technology reported a 10% sequential decline in revenue to $191.2 million, primarily due to weaker demand for PCs and smartphones. While gross margin and operating margin improved, earnings per share (EPS) slightly decreased to $0.91.
The company's outlook for the first quarter of 2025 weighed heavily on investors, with revenue expected to decline by 12.5% to 17.5% and operating margin projected to be in the range of 7.7% to 9.7%, significantly lower than the previous quarter's 16.5%. This weakness is attributed to ongoing challenges in the NAND market, with prices not expected to recover until the second half of the year.
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