The fabless semiconductor company said it now expects a 30% to $32% growth in revenue for the second quarter, above its previous guidance for a 10% to 15% increase.
Silicon's non-GAAP gross margin is expected to be in the 51% to 52% range, higher than the company's original 48% to 50% estimate.
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Silicon said it will release its 2014 second quarter financial results after the market closes on July 28.
Separately, TheStreet Ratings team rates SILICON MOTION TECH -ADR as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SILICON MOTION TECH -ADR (SIMO) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."