In a report released yesterday, Rajvindra Gill from Needham maintained a Buy rating on Silicon Motion (SIMO), with a price target of $47. The company’s shares closed yesterday at $40.
According to TipRanks.com, Gill is a 5-star analyst with an average return of 12.3% and a 59.3% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies Inc, and Smart Global Holdings Inc.
Currently, the analyst consensus on Silicon Motion is a Moderate Buy with an average price target of $45.20, representing a 13.0% upside. In a report issued on April 25, Roth Capital also maintained a Buy rating on the stock with a $50 price target.
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Based on Silicon Motion’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $17.32 million. In comparison, last year the company had a net profit of $23.17 million.
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Silicon Motion Technology Corp. engages in the development, manufacture, and supply of semiconductor products for the electronics market. It offers embedded and expandable storage, radio frequency integrated circuits, and embedded graphics. The company was founded in November 2005 and is headquartered in Hong Kong.
