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Fly News Breaks for July 11, 2016
SIMO
Jul 11, 2016 | 06:53 EDT
Brean Capital analyst Mike Burton said he believes strength in Chinese smartphones, the ramp of Silicon Motion's new Flash partners and overall strength in SSDs are responsible for the company's revenue momentum upside to guidance. Following last week's update from the company, he raised his estimates and increased his price target on Silicon Motion shares to $60 from $46 while keeping a Buy rating on the stock.
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