Dougherty & Co Starts Silicon Image (SIMG) at Buy; Accumulating At The Bottom

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Dougherty & Co initiates coverage on Silicon Image (NASDAQ: SIMG) with a Buy. PT $7.00.

Analyst, Charlie Anderson, said, "We have been watching Silicon Image sell off for the last 15 months and believe it has become oversold. Seeing recent insider buying from the CEO, CFO and VP of product marketing gives us added confidence in this conclusion."

"Our preference is not to bid a premium on the company’s nascent wireless HD business or a wired HD business with competition questions and TV/STB exposure. We’d rather get them for free or near-free and get only upside. That time has arrived."

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

Shares of Silicon Image closed at $4.13 yesterday, with a 52 week range of $4.08-$7.27.

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