Folks on rainy days like this when it's tough to come up with an idea I really have to work to find something. Often I try to time a news item- earnings or bio presentation so I get an immediate pop and then can settle into a trade... one such set up appears to be Silicon Motion. Recently Zacks had this to say - SIMO) raised its sales guidance in late-March, crediting what it described as "unexpected strength". The company is benefiting from use of its controllers by Samsung, demand in China for SD and micro SD controllers and a broader product offering. All four covering brokerage analysts raised their forecasts in response, pushing the consensus earnings estimate up three cents to 30 cents per share.... I like info like that tweaks up are good. I just happened to be doing work on the name because it appears to be a perfect REVERSE head & SHOULDERS bottoming pattern. I'm buying in my big boy account because I'm bored and also because they blew me off when I asked about VMW and so this is so to show that I still trade earnings plays.... jah be with me and you.~ stoney
I like to call this part of a stocks basing curbside justice or steppen' on the neck but SIMO is setting up nicely in a near perfect chart formation. This will be a good test whether stock patterns lead information or the other way around... we need boffo earnings here... it's a wild stoney stab at immortality. Testing 2 1/2 month resistance right at that neckline. owch!~ stoney
I've been signing all my checks today the 28th but it's the 29th! Silicon Motion earnings tonight! I give you research. I give you interesting chart pattern. I give you buy point and a beaten down tech star. I give you earnings my sources say will surely beat... I give you SIMO who's in it with me? ~ stoney
gobar this investing is about narrowing focus. I began this week with nothing great and gradually through osmosis this name came forward. We have a lot in our favor... Zacks piece indicating analyst tweaks up, a nice chart with tons of upside, a great company with a great ceo profiled in IBD a few times... we are hooked into FLASH which is always frustrating but we are in an up FLash pricing cycle which means inventory should be down at SIMO which means product out the door. Ontop of all of that I got a tip that earnings should be good. Lets hope they are good enough it's me and you Go and I'm wearinmg my Chinese Jade necklace for both of us! ~ stoney
Got my Jade necklace on Go let's see how they did..... April 29, 2008 18:08 EDT SIMO Silicon Motion-SIMO reports Q1 EPS of 44c vs. consensus of 36c Reports Q1 revenue of $52.2M vs. consensus of $44.96M. : BEATS BY 8 CENTS BEATS REV BY 6 MILLION!!!! Ok part one done/ now we need good talk about next quarter and some good analyst pump.... I'm not going to check the pre I'm just going to huddle with my family and my necklace and pray! ~stoney
Big report. Play the market let it ride if we get thru Fri. Unless it REALLy picks up afternoon steam in which case we will talk! ~ stoney (SIMO) Silicon Motion: Very impressive results with big SSD design wins announced with DELL and HPQ - Lazard notes yesterday SIMO reported strong Q1 rev of $52.5 mln and pro forma EPS of $0.44. Firm says the upside came from mobile storage sales largely to Samsung, which topped $41 mln. Total unit shipments increased 17% QoQ. GM at 51% came in slightly lower than expected due to a one-time FX charge, though going forward mgmt reiterated its 52%-53% GM. Firm notes mgmt also announced design wins in HPQ's Mini- Note PC and DELL's ultra mobile PC, which could provide upside to numbers going forward. This is a positive surprise as it well positions the co in the SSD market going forward. Firm forecasts >$10 mln from this category in 2008.