Analysts Offer Insights on Technology Companies: Silicon Motion (NASDAQ: SIMO), Synopsys (NASDAQ: SNPS) and QuickLogic (NASDAQ: QUIK)

By Austin Angelo

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Silicon Motion (NASDAQ: SIMO), Synopsys (NASDAQ: SNPS) and QuickLogic (NASDAQ: QUIK).

Silicon Motion (NASDAQ: SIMO)

In a report released yesterday, Mike Burton from Brean Capital reiterated a Buy rating on Silicon Motion (NASDAQ: SIMO). The company’s shares opened today at $45.90.

According to TipRanks.com, Burton is a 5-star analyst with an average return of 11.5% and a 62.7% success rate. Burton covers the Technology sector, focusing on stocks such as Integrated Device Tech, Himax Technologies, and Skyworks Solutions.

Silicon Motion has an analyst consensus of Strong Buy, with a price target consensus of $59.

Synopsys (NASDAQ: SNPS)

In a report released today, Gary Mobley from Benchmark Co. reiterated a Hold rating on Synopsys (NASDAQ: SNPS), with a price target of $60. The company’s shares opened today at $58.52, close to its 52-week high of $62.

According to TipRanks.com, Mobley is a 1-star analyst with an average return of -4.1% and a 49.1% success rate. Mobley covers the Technology sector, focusing on stocks such as Adesto Technologies Corp, Vitesse Semicond, and Cadence Design.

Synopsys has an analyst consensus of Strong Buy, with a price target consensus of $68.75.

QuickLogic (NASDAQ: QUIK)

In a report released yesterday, Sujeeva De Silva from Roth Capital reiterated a Buy rating on QuickLogic (NASDAQ: QUIK), with a price target of $1.50. The company’s shares opened today at $0.95.

De Silva noted:

“We believe QUIK represents a differentiated investment opportunity in mobile sensor processors. With transition to newer sensor hub products, we remain comfortable with the significant ramp potential ahead. We are encouraged by the company’s initiation of an IP licensing program and now have even higher confidence in our revenue growth forecast. We maintain our Buy rating. Launching FPGA Licensing Effort. QUIK announced a new FPGA IP licensing program (eFPGA), in conjunction with Global Foundry’s FDXcelerator partner program. With a long history of fabless FPGA production and development tool expertise, we believe QUIK represents the natural vendor of merchant eFPGA IP . Given the significant M&A activity in the FPGA segment, we believe the decision to offer eFPGA is very timely and can broaden availability of an increasingly scare IP capability . We believe QUIK’s focus on high volume, low power mobile and IoT applications can support a high royalty revenue opportunity, like comparables CEVA (CEVA-Buy), ARM Holdings and Imagination (IMG.LON-NC). While we expect additional foundries and initial licensing sometime around mid-2017, this announcement increases our confidence in our 2017 revenue growth projection.”

According to TipRanks.com, Silva is a 5-star analyst with an average return of 16.5% and a 63.6% success rate. Silva covers the Technology sector, focusing on stocks such as Semiconductor Manufacturing, Adesto Technologies Corp, and Advanced Micro Devices.

QuickLogic has an analyst consensus of Moderate Buy, with a price target consensus of $1.50.