B. Riley raised the firm’s price target on Silicon Motion to $112 from $109 and keeps a Buy rating on the shares. Silicon Motion guided Q2 sales and gross margin above estimates, the analyst tells investors in a research note.
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Read More on SIMO:
- Silicon Motion Exceeds Q2 Revenue Projections
- Silicon Motion sees Q2 revenue slightly above high-end of $199M-208M
- Silicon Motion Expands Management Team with the Additions of Dr. Jen-Tai Hsu as Vice President of Algorithm & Technology, Mr. Tao Cheng as Vice President of Manufacturing Operations and Mr. Tom Sepenzis as Senior Director of IR & Strategy
- Silicon Motion makes additions to technology, communications teams
- Silicon Motion price target lowered to $105 from $109 at B. Riley