Investing.com - Silicon Motion reported on Monday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Silicon Motion announced earnings per share of $0.7 on revenue of $126M. Analysts polled by Investing.com anticipated EPS of $0.67 on revenue of $120.67M.
Silicon Motion shares are down 26.33% from the beginning of the year and are trading at $37.36 , down-from-52-week-high.They are under-performing the Nasdaq which is up 22.12% from the start of the year.
Silicon Motion follows other major Technology sector earnings this month
Silicon Motion's report follows an earnings beat by Apple on Thursday, who reported EPS of $0.73 on revenue of $64.7B, compared to forecasts EPS of $0.71 on revenue of $63.8B.
Microsoft had beat expectations on October 27 with first quarter EPS of $1.82 on revenue of $37.15B, compared to forecast for EPS of $1.54 on revenue of $35.76B.
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