Summary

• Silicon Motion’s Q3 revenue grew 14 percent Y/Y with margins back in the high 40s and operating leverage improving. Q4 guidance points to a $1B+ annualized run rate and 19–20 percent operating margin.
• SIMO’s Gen5 mix expanded, eMMC/UFS stayed strong, and enterprise traction is clearer with new AI boot-drive wins.
• DCF work and normalized EPS support a fair value well above today’s price.

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I like the setup that Silicon Motion Technology Corporation (SIMO) has, especially after the Q3 25 earnings report came in. Revenue and margins are up, the Gen5 mix stepped up faster than I expected, and the demand for eMMC/UFS is still very solid. Added

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