Silicon Motion Technology (SIMO) reported fourth quarter non-GAAP net income of $0.47 per ADS after the close Thursday, compared to $0.18 per ADS last year. The consensus estimate was for EPS of $0.34.
Silicon Motion Technology gapped open sharply higher Friday and is now up 2.23 at $24.94 on above average volume. The stock has broken out of a one-month range and has set a new high for the year.
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