Silicon Motion Moves Against Nasdaq Slump, Eyes Next Catalyst This Week
Silicon Motion shares closed at $259.99 Friday, down 1.5% for the day but up 2.5% for the week, outperforming a broader tech selloff that saw the Nasdaq fall 1.5%. The stock hit $273.90 Wednesday before retreating. The company reported Q1 net sales of $342.1 million, up 105% year-over-year, and forecast Q2 revenue of $393–411 million. Analyst targets rose after strong earnings and guidance.