Susquehanna Sticks to Its Hold Rating for Silicon Motion (SIMO)
Susquehanna analyst Mehdi Hosseini reiterated a Hold rating on Silicon Motion (SIMO) today and set a price target of $52.00. The company’s shares closed last Monday at $47.26.
According to TipRanks.com, Hosseini is a 5-star analyst with an average return of 10.0% and a 52.8% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Hewlett Packard Enterprise, and Keysight Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Silicon Motion with a $58.17 average price target.
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Based on Silicon Motion’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $4.22 million. In comparison, last year the company had a net profit of $15.11 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.