Analysts’ Top Technology Picks

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Yelp (NYSE: YELP) and Silicon Motion (NASDAQ: SIMO) with bullish sentiments.

Yelp (NYSE: YELP)

In a report released today, Neil Doshi from Mizuho Securities reiterated a Buy rating on Yelp (NYSE: YELP), with a price target of $45. The company’s shares opened today at $36.11.

According to TipRanks.com, Doshi is a 5-star analyst with an average return of 10.3% and a 58.5% success rate. Doshi covers the Technology sector, focusing on stocks such as Activision Blizzard, Electronic Arts, and Bankrate Inc.

Currently, the analyst consensus on Yelp is Moderate Buy and the average price target is $40.59, representing a 12.4% upside.

In a report issued on October 31, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $42 price target.
Silicon Motion (NASDAQ: SIMO)

Brean Capital analyst Mike Burton reiterated a Buy rating on Silicon Motion (NASDAQ: SIMO) today and set a price target of $60. The company’s shares opened today at $41.60.

Burton observed:

“We are updating our model for SIMO’s Q3, reported late last week, and establishing our estimates for 2018. SIMO shares came under significant pressure last week after what was a solid report and guide from the company; we attribute this to concerns over 1) slowing growth in core Mobile and Client SSD markets, and 2) risks related to a potential overbuild in Chinese handsets. We believe the company is being conservative to its approach to guidance for the mobile end market, considering the big deceleration implied in its guidance, and has opportunities to grow the business at least in line with its end markets.”

According to TipRanks.com, Burton is a 5-star analyst with an average return of 9.9% and a 66.1% success rate. Burton covers the Technology sector, focusing on stocks such as Integrated Device Tech, Himax Technologies, and Skyworks Solutions.

Currently, the analyst consensus on Silicon Motion is Strong Buy and the average price target is $59.25, representing a 42.4% upside.

In a report issued on October 25, Needham also reiterated a Buy rating on the stock with a $60 price target.