Needham analyst Rajvindra Gill assigned a Buy rating to Silicon Motion (SIMO) today and set a price target of $55.00. The company’s shares closed last Thursday at $40.20.
According to TipRanks.com, Gill is a 4-star analyst with an average return of 5.4% and a 54.9% 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 Strong Buy analyst consensus rating for Silicon Motion with a $57.00 average price target, which is a 43.2% upside from current levels. In a report issued on July 23, B.Riley FBR also maintained a Buy rating on the stock with a $58.00 price target.
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The company has a one-year high of $53.04 and a one-year low of $26.72. Currently, Silicon Motion has an average volume of 348.9K.
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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.
