Analyst Nick Doyle of Needham maintained a Buy rating on Silicon Motion (SIMO – Research Report), reducing the price target to $65.00.
Nick Doyle’s rating is based on several positive developments for Silicon Motion Technology Corporation. The company has maintained its fiscal year outlook and announced a significant win related to NVIDIA, which boosts confidence in its growth prospects through 2026. The anticipated growth is expected to be driven by the PCIe Gen5 8CH, supported by broad wins among PC OEMs and increasing demand from Chinese AI startups.
Additionally, the company is gaining mobile market share with advancements in UFS technology and the aftermarket mSSD for Switch 2. The MonTitan 128TB QLCs are progressing well, and the new NVDA BlueField-3 DPU “Boot Drive” win is expected to contribute positively in the second half of 2025. Despite slightly higher operational expenses due to additional tapeouts, these factors collectively support the Buy rating for SIMO.
Doyle covers the Technology sector, focusing on stocks such as Silicon Motion, Cerence, and MagnaChip. According to TipRanks, Doyle has an average return of -31.4% and a 0.00% success rate on recommended stocks.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $70.00 price target.