Positive Report for Silicon Motion from Standpoint Research

By Austin Angelo

Standpoint Research analyst Ronnie Moas upgraded Silicon Motion (NASDAQ: SIMO) to Buy today. The company’s shares opened today at $43.72.

According to TipRanks.com, Moas is a 5-star analyst with an average return of 5.5% and a 69.5% success rate. Moas covers the Consumer Goods sector, focusing on stocks such as Mercer International Inc, Archer Daniels Midland, and Edgewell Personal Care.

Currently, the analyst consensus on Silicon Motion is Strong Buy and the average price target is $55.17, representing a 26.2% upside.

In a report issued on August 15, Needham also reiterated a Buy rating on the stock with a $54 price target.

The company has a one year high of $56.25 and a one year low of $37.37. Currently, Silicon Motion has an average volume of 608.5K.

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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.