Silicon Motion soars after upgrade as it catches benefits of AI: Morgan Stanley [Seeking Alpha]
Silicon Motion Technology Corporation - American Depositary Shares, each representing four ordinary shares (SIMO)
Last silicon motion technology corporation - american depositary shares, each representing four ordinary shares earnings: 4/28 06:00 pm
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US:NASDAQ Investor Relations:
ir.siliconmotion.com
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Source: Seeking Alpha
The global supplier of NAND flash controllers for solid state storage devices spiked 8% during early market action Monday. Morgan Stanley also increased its price target substantially on the stock, raising it to from $59. Silicon Motion released its first quarter financial results and a 2024 outlook last Thursday, which topped market expectations. "The company raised its 2024 revenue outlook to US$800-830mn, up 25-30% Y/Y (vs. previous guidance of up 20-25% Y/Y)," Morgan Stanley noted. "This reflects strong orders from clients and SIMO's introduction of a more comprehensive product portfolio." Silicon Motion's exposure to the PC market should benefit the company in the quarters ahead due to the expansion of AI-powered PCs. Silicon Motion has a Hold rating from Seeking Alpha analysts, but maintains a Buy rating from Wall Street analysts. It has a Hold rating from Seeking Alpha's Quant system, which routinely beats the market. Recommended For You More Trending News Reco
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News
- Investors Heavily Search Silicon Motion Technology Corporation (SIMO): Here is What You Need to Know [Yahoo! Finance]Yahoo! Finance
- Wall Street Analysts Believe Silicon Motion (SIMO) Could Rally 25.56%: Here's is How to Trade [Yahoo! Finance]Yahoo! Finance
- Should You Invest in Silicon Motion (SIMO) Based on Bullish Wall Street Views? [Yahoo! Finance]Yahoo! Finance
- Silicon Motion: NAND Flash Is Coming Back - Initiating With A Buy [Seeking Alpha]Seeking Alpha
- FMS: The Future Of Memory And Storage Launches New Website And Opens Registration [Yahoo! Finance]Yahoo! Finance
SIMO
Earnings
- 5/2/24 - Beat
SIMO
Sec Filings
- 5/13/24 - Form 144
- 5/10/24 - Form 144
- 5/8/24 - Form 144
- SIMO's page on the SEC website