Deutsche Bank Starts Silicon Motion Technology (SIMO) at Buy; Strong Position in High-Growth Markets
Tweet Send to a FriendGet Alerts SIMO Hot Sheet
Price: $10.97 -0.72%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade SIMO Now!
Deutsche Bank initiates coverage on Silicon Motion Technology (NASDAQ: SIMO) with a Buy. PT $24.00.
Deutsche analyst, said, "We believe Silicon Motion can deliver above market revenue growth through its strong position in flash controllers and LTE wireless solutions at Samsung Electronics (30% of revenue). SIMO's controller IP is increasingly differentiated in the market and underpins a trend of higher ASPs. Even with a more muted outlook for SIMO's LTE wireless solutions in 2013 (-3% y/y), we expect the company to continue to outperform its peers."
"We model 2012 of $284m (+27% y/y)/PF EPS $1.78 and 2013 of $317m (+12% y/y)/$2.00 on 48.3% GM."
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 $15.98 yesterday, with a 52 week range of $9.55-$24.98.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Deutsche analyst, said, "We believe Silicon Motion can deliver above market revenue growth through its strong position in flash controllers and LTE wireless solutions at Samsung Electronics (30% of revenue). SIMO's controller IP is increasingly differentiated in the market and underpins a trend of higher ASPs. Even with a more muted outlook for SIMO's LTE wireless solutions in 2013 (-3% y/y), we expect the company to continue to outperform its peers."
"We model 2012 of $284m (+27% y/y)/PF EPS $1.78 and 2013 of $317m (+12% y/y)/$2.00 on 48.3% GM."
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 $15.98 yesterday, with a 52 week range of $9.55-$24.98.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Topeka Capital Starts Cavium Networks (CAVM) at Hold
- Wells Fargo Starts CoStar Group (CSGP) at Outperform
- Maxim Group Assumes Trina Solar (TSL) at Hold
Create E-mail Alert Related Categories
New CoverageRelated Entities
Deutsche Bank
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
