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Needham upgrades Silicon Motion (SIMO) to a Buy

In a report released today, Rajvindra Gill from Needham upgraded Silicon Motion (SIMOResearch Report) to a Buy, with a price target of $75.00. The company’s shares opened today at $54.50.

According to TipRanks, Gill is a 5-star analyst with an average return of 8.5% and a 51.76% success rate. Gill covers the Technology sector, focusing on stocks such as Nvidia, Cirrus Logic, and Synaptics.

In addition to Needham, Silicon Motion also received a Buy from Susquehanna’s Mehdi Hosseini in a report issued today. However, on the same day, Roth Capital maintained a Hold rating on Silicon Motion (NASDAQ: SIMO).

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The company has a one-year high of $97.51 and a one-year low of $51.82. Currently, Silicon Motion has an average volume of 397.7K.

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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.

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