Silicon Motion Technology (SIMO) Tops Q2 EPS by 3c; offers guidance
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Silicon Motion Technology (SIMO) PT Lowered to $82 at JPMorgan
August 5, 2024 4:08 PM EDTJPMorgan analyst Gokul Hariharan lowered the price target on Silicon Motion Technology (NASDAQ: SIMO) to $82.00 (from $90.00) while maintaining a Overweight rating.
The analyst comments "SIMOs 2Q24 revenue/GM came in better, but core earnings were lower, dragged by higher R&D costs for new product tape-outs. Management guidance suggests a muted 2H24, given weaker Client SSD demand from module... More
