News
SIMO
71.64
-2.88%
-2.13
Maxlinear tumbles as Needham downgrades after weak Q2, guidance
MaxLinear shares fell 26.5% in premarket trading. The semiconductor company reported weaker-than-expected quarterly results and guidance. Needham downgrades MaxLinear to Hold from Buy. The company may be getting "squeezed" by Broadcom and Silicon Motion.
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About SIMO
SILICON MOTION TECHNOLOGY CORPORATION is a provider of negative-AND (NAND) flash controllers for Solid State Drives (SSDs) and other solid state storage devices. The Company is mainly engaged in the design, development and sale of low-power semiconductor solutions for original equipment manufacturers (OEMs) and other customers in the mobile storage market. The Company is mainly engaged in the development of NAND flash controller integrated circuits (ICs) for solid-state storage devices, as well as specialty radio frequency (RF) ICs for mobile devices. In the mobile storage market, the Company's products are controllers used in SSDs, Embedded Multimedia Cards (eMMCs) and other embedded storage products, as well as flash memory cards, universal serial bus (USB) flash drives and other expandable storage products. The Company's products are used in smartphones, tablets, personal computers (PCs) and other devices.