Live: Samsung Unpacked Live Updates Apple HomePod 2 Review Apple Earnings Preview Resurrecting the Dodo COVID Emergency to Expire DOJ Eyes Tesla Self-Driving DC's 'Gods and Monsters' Slate Salami, Sausage Recalled
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

Silicon Storage Technology gains ground

Silicon Storage Technology shares shot up 3, or 11 percent, to 31 3/8 Thursday after First Union Securities started the chipmaker with a "strong buy" recommendation.

In its latest quarter, Silicon Storage Technology topped analysts' estimates when it returned a profit of $22.5 million, or 71 cents a share, on sales of $103.2 million.

It also completed a 3-for-1 split in August.

Its shares moved up to a 52-week high of 38 7/8 in June after falling to a low of 4 in September.

First Call Corp. consensus expects it to earn 27 cents a share in its third quarter and 96 cents a share in the fiscal year.

Six of the seven analysts following the stock rate it either a "buy" or "strong buy."