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Fly News Breaks for May 1, 2017
SIMO
May 1, 2017 | 08:35 EDT
Craig-Hallum analyst Anthony Stoss expects Silicon Motion to see a step function increase in revenues past the June quarter and for revenue growth to accelerate into 2018. Further, the analyst believes the company can grow revenues above expectations so long as new NAND capacity comes online consistent with his expectations. With an attractive valuation against what Stoss sees is a nice setup for the second half, he likes the shares at these levels and reiterates a Buy rating and $67 price target on the stock.
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