Brokerage Firm Rating Update on Silicon Motion Technology Corporation (SIMO)

Silicon Motion Technology Corporation (SIMO) : Zacks Investment Research ranks Silicon Motion Technology Corporation (SIMO) as 1, which is a Strong Buy recommendation. 7 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 11 research analysts is 1.59, which indicates as a Buy.

Silicon Motion Technology Corporation (SIMO) has been rated by 10 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $67 and the lowest price target forecast is $22. The average forecast of all the analysts is $50.75 and the expected standard deviation is $13.49.


For the current week, the company shares have a recommendation consensus of Buy.

Silicon Motion Technology Corporation (NASDAQ:SIMO): The stock opened at $52.85 and touched an intraday high of $55.85 on Wednesday. During the day, the stock corrected to an intraday low of $52.76, however, the bulls stepped in and pushed the price higher to close in the green at $55.85 with a gain of 5.86% for the day. The total traded volume for the day was 1,834,060. The stock had closed at $52.76 in the previous trading session.

Silicon Motion Technology Corporation (SMTC) is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. For the mobile storage market, the Companys products are microcontrollers used in solid state storage devices, such as Solid State Drives (SSDs), Embedded Multimedia Cards (eMMCs) and other embedded flash applications, as well as removable storage products. For the mobile communications market, the Companys products are mobile communication transceivers and mobile television (TV) System on Chips (SoCs). The Companys products are used in smartphones, tablets, notebooks, desktop personal computers, and industrial and commercial applications. The Company markets its mobile storage products under the SMI brand and mobile communications products under the FCI brand.

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