13 Best Small Cap Tech Stocks to Buy Now

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3. Silicon Motion Technology Corporation (NASDAQ:SIMO)

Number of Hedge Fund Holders: 39

Market Capitalization: $1.79 billion

Silicon Motion Technology Corporation (NASDAQ:SIMO) and its subsidiaries are involved in creating, developing, and marketing NAND flash controllers for solid-state storage devices globally. The company provides controllers for computing-grade SSDs, enterprise-grade SSDs, eMMC and UFS mobile embedded storage, flash memory cards and drives, and specialty SSDs.

Silicon Motion Technology Corporation (NASDAQ:SIMO) recently released its Q4 2024 earnings, with an EPS of $0.91 that surpassed projections of $0.81. However, revenue fell short of expectations, totaling $191.2 million instead of the projected $196.46 million. This performance comes despite the backdrop of tough market conditions, notably in the NAND sector, which is under pricing pressure.

Back in late 2024, SIMO announced a deal with TOP-electronics to strengthen its market position in the EMEA. The partnership aims to provide Ferri integrated storage and display interface solutions for AI, AIoT, embedded, and automotive applications.

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