May. 28 at 12:30 AM
$SIMO Silicon Motion price target raised to
$450 from
$320 at BofA
BofA raised the firm's price target on Silicon Motion to
$450 from
$320 and keeps a Buy rating on the shares. The firm noted EPS revisions are mostly based on higher sales assumptions for SSD/enterprise solutions. Since global memory industry data have been upbeat quarter to date, BofA believes Silicon Motion's Q2 sales could easily exceed guidance, the firm told investors in a research note. BofA added that the company's run-rate could exceed
$1.5B in 2026 and over
$2B in 2028.