Silicon Motion Technology SIMO recently reported preliminary third-quarter 2021 results. The company now expects sequential revenue growth to exceed the high end of its original guidance of 7.5-12.5%, issued on Jul 30, 2021.For third-quarter 2021, Silicon Motion expects non-GAAP revenues in the range of $238-$249 million. The Zacks Consensus Estimate is currently pegged at $243.6 million, which represents year-over-year growth of 93.2%.Gross margin for the to-be-reported quarter is now anticipated to slightly exceed 50%, which falls within the previously mentioned guidance range of 48.5%-50.5%. However, the company did not provide any update on its non-GAAP operating margin metrics. It formerly guided non-GAAP operating margin to be 27.5-29.5%.The consensus mark for third-quarter earnings is pegged at $1.60 per American Depositary Share, up 0.6% in the past 60 days.Following the preliminary earnings, Silicon Motion’s shares declined 1.5% and closed at $68.56 on Oct 7. Shares have returned 42.4% compared with the Zacks Electronics-Semiconductor industry’s growth of 10.5% year to date. Silicon Motion Technology Corporation Price, Consensus and EPS Surprise Silicon Motion Technology Corporation price-consensus-eps-surprise-chart | Silicon Motion Technology Corporation Quote Silicon Motion is scheduled to report third-quarter 2021 results on Oct 27, 2021.Third-Quarter Growth DriversSilicon Motion is one of the leading providers of NAND flash-based controllers for solid-state storage devices or SSDs.Revenues for the third quarter of 2021 are likely to have benefited from continued momentum in SSD controller sales as well as healthy sales of eMMC and UFS controllers.Notably, higher PC sales, sparked by online education and the work-from-home wave, hold promise. Solid PC shipments are anticipated to have driven demand for the company’s PCIe NVMe SSD controllers.Markedly, in second-quarter 2021, SSD controller sales grew 30-35% sequentially. Silicon Motion has been gaining market share, driven by strong demand for PCIe Gen3 SSD controllers from a diversified set of NAND flash and Tier one module maker customers.New design wins for PCIe Gen4 SSD controllers from NAND makers are expected to have aided Silicon Motion’s third-quarter results. The company launched its new SM2320 single-chip high-performance, low-power cost-effective solution for external portable SSDs during the to-be-reported quarter.Zacks Rank & Stocks to ConsiderSilicon Motion currently has a Zacks Rank #3 (Hold).Better-ranked stocks in the same industry are Broadcom AVGO, Ambarella AMBA and United Microelectronics UMC. All three stocks carry a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Long-term earnings growth rate for both Broadcom and Ambarella stands at 15%, while United Microelectronics’ expected growth rate stands at 27%. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Broadcom Inc. (AVGO): Free Stock Analysis Report United Microelectronics Corporation (UMC): Free Stock Analysis Report Silicon Motion Technology Corporation (SIMO): Free Stock Analysis Report Ambarella, Inc. (AMBA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research