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Silicon Motion (SIMO) Receives a Rating Update from a Top Analyst

Tipranks - Tipranks - Fri May 1, 8:44AM CDT

In a report released today, Craig Ellis from B. Riley Securities maintained a Buy rating on Silicon Motion, with a price target of $250.00.

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According to TipRanks, Ellis is a top 100 analyst with an average return of 37.6% and a 60.28% success rate. Ellis covers the Technology sector, focusing on stocks such as Amkor, Formfactor, and Applied Materials.

Currently, the analyst consensus on Silicon Motion is a Strong Buy with an average price target of $234.29.

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Based on Silicon Motion’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $278.46 million and a net profit of $47.75 million. In comparison, last year the company earned a revenue of $191.16 million and had a net profit of $21.57 million

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