Analysts Offer Insights on Technology Companies: Red Hat (NYSE: RHT), Adobe Systems Incorporated (NASDAQ: ADBE) and Silicon Motion (NASDAQ: SIMO)

There’s a lot to be optimistic about in the Technology sector as 3 experts just weighed in on Red Hat (NYSE: RHT), Adobe Systems Incorporated (NASDAQ: ADBE) and Silicon Motion (NASDAQ: SIMO) with bullish sentimens.

Red Hat (NYSE: RHT)

In a report released today, Walter Pritchard from Citigroup maintained a Buy rating on Red Hat (NYSE: RHT), with a price target of $90. The company’s shares closed yesterday at $75.71.

Currently, the analyst consensus on Red Hat is Strong Buy and the average price target is $89.83, representing a 18.7% upside. In a report issued on March 14, Deutsche Bank also maintained a Buy rating on the stock with a $95 price target.

According to TipRanks.com, Pritchard is a 5-star analyst with an average return of 11.3% and a 62.9% success rate. Pritchard covers the Technology sector, focusing on stocks such as Jive Software Inc., Palo Alto Networks, and Qlik Technologies.

Adobe Systems Incorporated (NASDAQ: ADBE)

In a report released today, Nandan Amladi from Deutsche Bank maintained a Buy rating on Adobe (NASDAQ: ADBE), with a price target of $120. The company’s shares closed yesterday at $92.56.

Currently, the analyst consensus on Adobe is Moderate Buy and the average price target is $104.14, representing a 12.5% upside. In a report issued on March 14, UBS also maintained a Buy rating on the stock with a $105 price target.

According to TipRanks.com, Amladi is a 3-star analyst with an average return of 1.1% and a 47.2% success rate. Amladi covers the Technology sector, focusing on stocks such as Synchronoss Technologies, Nuance Communications, and Verint Systems Inc.

Silicon Motion (NASDAQ: SIMO)

In a report released today, Mike Burton from Brean Capital maintained a Buy rating on Silicon Motion (NASDAQ: SIMO), with a price target of $45. The company’s shares closed yesterday at $36.31, close to its 52-week high of $37.02.

Silicon Motion has an analyst consensus of Moderate Buy, with a price target consensus of $41.

According to TipRanks.com, Burton is a 5-star analyst with an average return of 12.1% and a 60.6% success rate. Burton covers the Technology sector, focusing on stocks such as Triquint Semiconductor, Himax Technologies, and Skyworks Solutions.