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SIMO

Silicon Motion

$44.56

0.4 (0.91%)

08:05
07/08/19
07/08
08:05
07/08/19
08:05

Silicon Motion expects Q2 revenue 4% below low-end of $98M-$107M guidance range

Consensus $105M. Silicon Motion Technology announces that based on its preliminary second quarter financial results, revenue is expected to be within 4% below the low-end of the original guidance range of $98M to $107M that the company issued on May 3, 2019. Gross margin is expected to be within 100 basis points above the high-end of the company's original guidance range of 48.5% to 50.5%.

SIMO Silicon Motion
$44.56

0.4 (0.91%)

04/10/19
RILY
04/10/19
NO CHANGE
Target $52
RILY
Buy
Silicon Motion transferred with Buy rating at B. Riley FBR
B. Riley FBR analyst Craig Ellis took over coverage of Silicon Motion Technology from Mike Crawford and maintained a Buy rating on the shares. He lowered his price target to $52 from $53. Ellis says his updated estimates "amplify" 2019's downside on the NAND cyclical correction, but also a recovery in 2020.
04/22/19
MSCO
04/22/19
DOWNGRADE
MSCO
Underweight
Silicon Motion downgraded to Underweight from Equal Weight at Morgan Stanley
04/22/19
04/22/19
DOWNGRADE
Target $34

Underweight
Silicon Motion cut to Underweight at Morgan Stanley on IC market share loss
As previously reported, Morgan Stanley analyst Charlie Chan downgraded Silicon Motion to Underweight from Equal Weight and lowered his price target to $34 from $34.90. The analyst notes that while the solid-state drive, or SSD, market looks "ready to ripen", chip design companies in Asia are "commoditizing the controller IC market", citing his findings that the competition between Silicon Motion and Taiwan's Phison has "intensified." Chan adds that his industry checks also suggest that "key customer ADATA" is planning to allocate more SSD controller IC spend to Taiwan's Realtek at the expense of Silicon Motion.
05/06/19
RILY
05/06/19
NO CHANGE
Target $55
RILY
Buy
Silicon Motion price target raised to $55 from $52 at B. Riley FBR
B. Riley FBR analyst Craig Ellis raised his price target for Silicon Motion Technology to $55 from $52 saying the company's "strong trough execution" increases his confidence in a recovery. The analyst reiterates a Buy rating on the shares.

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