Silicon Motion Technology (SIMO) PT Raised to $50 at Roth Capital

Roth Capital analyst Suji Desilva raised the price target on Silicon Motion Technology (NASDAQ: SIMO) to $50.00 (from $45.00) while maintaining a Buy rating.

The analyst comments "SIMO will report 1Q19 earnings next week. Having already preannounced revenue and gross margin below the lower-end of prior guidance, we expect SIMO’s significant 1Q19 sequential decline to represent a low-point for the year. We expect sequential growth and potential upside around mid-2019 to reflect conservatively-set-for recovery opportunity in SSD unit growth opportunities."

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