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Okta, Silicon Motion rise; Apogee, Constellation fall Follow Us
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NEW YORK (AP) - Stocks that traded heavily or had substantial price changes Thursday:
Okta Inc., up $15.92 to $238.48.
The cloud computing company gave investors an encouraging update on its operations and plans for growth.
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Silicon Motion Technology Corp., up $4.33 to $69.17.
The supplier of components to the chip industry gave investors a surprisingly good update on its first-quarter revenue.
CommScope Holding Co. up 93 cents to $16.35.
The wireless and broadband network technology company will spin off its home networks business.
GameStop Corp., down $7.71 to $170.26.
The video game retailer plans to elect Chewy co-founder Ryan Cohen as chairman of its board of directors.
Okta, Silicon Motion rise; Apogee, Constellation fall sfgate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfgate.com Daily Mail and Mail on Sunday newspapers.
Silicon Motion to invest NT$4bn to build new facility
By Lisa Wang / Staff reporter
Silicon Motion Technology Corp (慧榮科技), the world’s biggest supplier of controllers used in NAND flash memory chips, yesterday said it plans to invest NT$4 billion (US$141.31 million) to build a new headquarters in Hsinchu County’s Jhubei City as chip demand continues to grow.
The NASDAQ-listed company said that it expects robust demand for NAND flash memory chips used in smartphones, PCs and Internet-of-Things (IoT) applications to help fuel growth of its revenue.
Revenue this year is forecast to increase by 20 to 30 percent to US$650 million to US$700 million, from US$539.52 million last year, which was up 17 percent from 2019, Silicon Motion Technology said in a statement.