Needham Gives a Buy Rating to Silicon Motion (SIMO)
In a report released today, Rajvindra Gill from Needham assigned a Buy rating to Silicon Motion (SIMO), with a price target of $82.00. The company’s shares closed last Thursday at $69.72.
According to TipRanks.com, Gill is a 5-star analyst with an average return of 18.0% and a 67.6% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Silicon Motion with a $74.25 average price target, a 6.5% upside from current levels. In a report released today, Roth Capital also maintained a Buy rating on the stock with a $90.00 price target.
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Silicon Motion’s market cap is currently $2.28B and has a P/E ratio of 28.70. The company has a Price to Book ratio of 4.11.
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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.