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Fly News Breaks for October 30, 2019
SIMO
Oct 30, 2019 | 12:41 EDT
SIMO reported last night reported Q3 revenue above its preannounced upside, which represents "very strong" sequential revenue growth for the company, Roth Capital analyst Suji Desilva tells investors in a post-earnings research note. A more stable NAND supply/demand and pricing environment should drive "broad growth" across all three of Silicon Motion's key segments, adds the analyst. He raised his price target for the shares to $55 from $45 and maintains a Buy rating on the name.
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