🔴 Silicon Motion Technology is trading 5.4% down in after-hours trading amid Intel-led semiconductor selloff

Silicon Motion Technology is trading at $215.35, down 5.4%, amid sector pressure after Intel’s weaker-than-expected fourth-quarter outlook preceded a semiconductor selloff.

• Shares closed at $227.75 on October 29.
• Quarterly revenue was $560.2 million and non-GAAP EPS was $4.35; fourth-quarter revenue guidance was $588 million to $616 million.
• Reuters reported Intel’s drop pulled other chip stocks lower; the decline is sector pressure, not evidence of a Silicon Motion-specific negative earnings catalyst.