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Fly News Breaks for April 10, 2017
SIMO
Apr 10, 2017 | 07:54 EDT
Needham analyst Rajvindra Gill lowered his price target for Silicon Motion to $56 from $60 after his checks indicate persistent NAND tightness, potentially affecting client SSD growth and enterprise SSDs. Nonetheless, the analyst notes that the company announced that revenue for Q1 will be on the "upper-half" of its previous guidance of $121M-$128M and that Non-GAAP gross margins to the "high-end" of the 48%-50%. He reiterates a Buy rating on the shares.
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