B. Riley Securities Maintains Buy Rating for Silicon Motion Technology, Lowers Price Target To $106

B. Riley Securities has decided to maintain its Buy rating of Silicon Motion Technology SIMO and lower its price target from $135.00 to $106.00.

Shares of Silicon Motion Technology are trading down 1.6% over the last 24 hours, at $70.84 per share.

A move to $106.00 would account for a 49.63 increase% shift from the current share price.

About Silicon Motion Technology

Silicon Motion Technology Corp is active in the semiconductor industry and primarily focuses on designing, developing, and marketing of controllers for managing NAND flash used in embedded storage applications, such as eMMC embedded memory. Its only operating segment of Developing NAND flash controllers and SSDs solutions. The company derives revenue from product categories such as Mobile Storage, Mobile Communications, and others. Silicon earns the majority of the revenue from China and also has a presence in Taiwan, the United States, Japan, Korea, and Other Countries. The company products are used in Personal Computing, Smartphone/Tablet/CE, Flash Card/USB Flash Drive, Industrial and Embedded, Automotive, and Enterprise and Data Center.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

This article was generated by Benzinga's automated content engine and reviewed by an editor.