Susquehanna analyst Mehdi Hosseini reiterated a Hold rating on Silicon Motion (NASDAQ: SIMO) today and set a price target of $42. The company’s shares opened today at $37.59, close to its 52-week low of $35.25.
According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 7.9% and a 46.8% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Hewlett Packard Enterprise, and Applied Materials.
Currently, the analyst consensus on Silicon Motion is a Strong Buy with an average price target of $58.68.
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Based on Silicon Motion’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $30.47 million. In comparison, last year the company had a net profit of $17.61 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.
