Brean Capital Reiterates a Buy Rating on Silicon Motion

By Jason Carr

In a report released today, Mike Burton from Brean Capital reiterated a Buy rating on Silicon Motion (NASDAQ: SIMO). The company’s shares opened today at $43.38.

According to TipRanks.com, Burton is a 5-star analyst with an average return of 12.3% and a 63.1% 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 $58.

Based on Silicon Motion’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $163 million and quarterly net profit of $33.54 million. In comparison, last year the company earned revenue of $95.32 million and had a net profit of $13.04 million.

Silicon Motion Technology Corp. engages in the development, manufacture, and supply of semiconductor products for the electronics market. It operates through the following segments: Mobile Storage, Mobile Communications, and Others. It offers embedded and expandable storage, radio frequency integrated circuits, and embedded graphics. The company was founded in November 2005 and is headquartered in Jhubei City, Taiwan.