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Fly News Breaks for January 25, 2017
SIMO
Jan 25, 2017 | 07:39 EDT
Brean Capital analyst Michael Burton noted Silicon Motion reported solid Q4 results but due to current NAND shortages provided a disappointing top-line outlook for the March quarter and full year 2017. The analyst believes the shortages are temporary and business will likely accelerate, with both operating and gross margins improving. Burton believes shares are attractive at current levels and reiterated his Buy rating and $60 price target on Silicon Motion shares.
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