Brean Capital Remains Bullish Following an Investor Dinner With Silicon Motion Technology (SIMO)

Brean Capital maintains a Buy rating and $37 price target on Silicon Motion Technology (NASDAQ: SIMO) following an investor dinner. Analyst Mike Burton says that he came away from the dinner upbeat about the company.

Burton commented on the event, saying, "Last night we hosted an investor dinner with Jason Tsai, Director of IR & Strategy at Silicon Motion. Overall, we came away upbeat about the Company’s near-term and long-term positioning. Jason took the opportunity to address investor concerns and questions related to SK Hynix’s (SIMO’s largest customer) potential use of internal controllers, the Shannon acquisition, and the overall demand environment for PCs and Mobile. We believe the takeaways are very positive and we continue to rate SIMO a Buy with a TP of $37."

For an analyst ratings summary and ratings history on Silicon Motion Technology click here. For more ratings news on Silicon Motion Technology click here.

Shares of Silicon Motion Technology closed at $30.49 yesterday.

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