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Fly News Breaks for October 30, 2019
SIMO
Oct 30, 2019 | 12:44 EDT
Needham analyst Rajvindra Gill raised his price target for Silicon Motion (SIMO) to $55 from $44 and maintained a Buy rating following a significant beat and raise quarter. In a research note to investors, Gill says he is "encouraged" with Silicon Motion's move to a consignment arrangement with Alibaba (BABA) where it no longer has to procure the raw NAND costs, and says the UFS ramp with Micron (MU) is "robust" and will more than offset the slowdown at SK Hynix.
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