Launch of advanced SSD Silicon Motion (SIMO) solution for AI devices – May 31, 2024

Silicon Motion Technology Corporation (SIMO – Free Report recently introduced the ultra-fast, single-chip SM2322 controller to meet the growing demand for high-density external portable SSDs (Solid State Drives). AI-enabled smart devices and various gaming consoles are growing in popularity.

The complex tasks performed by these devices, such as high-resolution media capture and storage, real-time language translation, and voice assistant, generate a large pool of data. Modern games feature high-resolution graphics, regular updates and short loading times. SSD manufacturers are looking for a storage solution that meets the specifications required for advanced AI devices.

Recognizing this emerging trend, SIMO is introducing the SM2322 to its impressive lineup of SSD controllers. Equipped with the USB 3.2 Gen 2X2 specification, the solution can deliver incredible data transfer speeds of 20 GB/s. It offers read and write speeds of 2100 MB/s and 2000 MB/s, respectively. High reading speed ensures quick access to any large files, and fast writing speed ensures that information is saved faster. With a capacity of up to 8TB, the SM2322 can easily store significant amounts of information such as game files, libraries, and large data sets.

Integrated SIMO error correction technology quickly detects errors in data stored in NAND flash memory. Additionally, it meets stringent security standards and Trusted Computing Group compliance with 256-bit AES encryption and fingerprint security features. The single-chip solution eliminates the need for separate USB bridge chips, significantly reducing both bill of materials costs and power consumption. An additional advantage is compatibility with various operating systems, including macOS, Android OS and Windows.

With fast data transfer, robust security and large memory capacity, the SM2322 is ideal for the modern AI-driven digital environment. It effectively meets the needs of HD content creators, gamers and AI smartphone users who require high-density and high-performance portable storage.

Silicon Motion has established itself as a leading retail supplier of client SSD controllers to module manufacturers. It is well-positioned to adapt to industry changes, having worked with flash memory vendors to develop its own controller technology to overcome existing 3D NAND weaknesses and outshine competitors. The company has expanded its SSD controller program to include PC OEMs and eMMC/UFS controllers for smartphones, automotive applications and IoT/smart devices.

The company’s shares have gained 22.3% over the past year compared with the industry’s gain of 54.1%.

Zacks Rank and other stocks to consider

SIMO is currently sporting a Zacks Rank of #1 (Strong Buy). Some of the other top-rated stocks in the industry are discussed below.

NVIDIA Corporation (NVDA – Free Report), currently a Zacks Rank #1, has delivered a trailing four-quarter earnings surprise of 18.43%, on average. In the last reported quarter, the result was surprising at 11.48%. You can see complete list of today’s Zacks #1 ranked stocks here.

NVIDIA is the world leader in visual computing technology and the inventor of the graphics processor. Over the years, the company’s business has evolved from computer graphics towards artificial intelligence-based solutions that support high-performance computing platforms, gaming and virtual reality.

Arista Networks, Inc. (NETWORK – Free Report), which is currently a Zacks Rank #1, is likely to benefit from strong momentum and diversification across its leading industries and product lines. The company uses a software-led, data-centric approach to help customers build cloud architectures and improve their cloud experiences. Arista expects long-term earnings growth of 15.68%, and the trailing four-quarter earnings surprise has averaged 15.39%.

Leads the share of 100-gigabit Ethernet switches per port for the high-speed data center segment. Arista is gaining increasing market traction with its high-performance 200 and 400 GB switching products and remains well-positioned for healthy growth in the data-driven cloud networking industry with proactive platforms and predictive operations.

Motorola, Inc. Solutions (MSI – Free Report), currently sporting a Zacks Rank #2 (Buy), has delivered earnings surprises of 7.5% on average over the trailing four quarters. The company expects long-term earnings growth of 9.5%.

Motorola provides services and solutions to government and public safety programs, as well as to large enterprises and wireless infrastructure service providers. It develops and services both analog and digital two-way radio, voice and data products and systems for private networks, wireless broadband systems, and comprehensive enterprise mobility solutions for a wide range of enterprise markets.

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