Craig-Hallum raised the firm’s price target on Silicon Motion to $96 from $80 and keeps a Buy rating on the shares. The firm believes Silicon is becoming an AI play as new product design wins targeted at edge AI applications should boost revenues significantly exiting in 2025. Craig-Hallum highlights the company’s MonTitan enterprise solution is attractive vs peers as it offers higher performance at lower power consumption and ties in QLC support, which Silicon has extensive experience with.
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