Silicon Motion Technology generated record revenue of $560.2 million in the third quarter of 2026, up 131% year over year and 24% from the preceding quarter. Growth was driven by automotive SSDs, enterprise SSD controllers, AI server storage solutions and Ferri boot drives, whose sales surged more than 2,500% year over year. The company’s non-GAAP gross margin reached 53.7%, its operating margin stood at 32.1%, and it ended the quarter with $953.6 million in cash. For the fourth quarter of 2026, the company forecasts revenue of $588 million to $616 million and expects at least 40% revenue growth in 2027, with gross margins in the low-to-mid 50% range. The diversification reduces reliance on smartphone storage in favor of automotive and data center markets characterized by multiyear contracts and greater revenue visibility.
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