The Traderszone Network

Published in TZ Latest News 28 January, 2015 by The TZ Newswire Staff

Silicon Motion Eyes Enterprise, Hyperscale Data Sales

Taiwan-based chip designer Silicon Motion Technology (SIMO) neared a new high after reporting strong progress in two key markets during the fourth quarter. The stock slipped more than 5% in strong trade Wednesday, leaving shares near the 26.70 buy point of a cup-with-handle base. Shares started edging past the entry last week. But after the company announced results Monday evening, the stock rallied sharply above the entry point Tuesday.

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