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Fly News Breaks for April 10, 2017
SIMO
Apr 10, 2017 | 08:43 EDT
Craig-Hallum analyst Anthony Stoss notes that Silicon Motion reported better than expected preliminary Q1 results, and says he expects them to be toward the high end of guidance. The analyst believes the worst is now behind the company and says he would be a buyer of Silicon Motion, with shares continuing to work higher into 2H17 as new NAND capacity comes online and new customers for UFS and PCIe solutions launch in volume. He reiterates a Buy rating and $67 price target on the shares.
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