B.Riley FBR Remains a Buy on Silicon Motion (SIMO)

In a report issued on January 13, Craig Ellis from B.Riley FBR maintained a Buy rating on Silicon Motion (SIMOResearch Report), with a price target of $65.00. The company’s shares closed last Monday at $49.79, close to its 52-week high of $53.04.

According to TipRanks.com, Ellis is a 5-star analyst with an average return of 9.7% and a 62.6% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Skyworks Solutions, and Applied Materials.

Silicon Motion has an analyst consensus of Moderate Buy, with a price target consensus of $54.00, which is a 4.2% upside from current levels. In a report issued on January 8, Roth Capital also reiterated a Buy rating on the stock with a $60.00 price target.

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Silicon Motion’s market cap is currently $1.82B and has a P/E ratio of 32.76. The company has a Price to Book ratio of 3.19.

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Silicon Motion Technology Corp. engages in the development, manufacture, and supply of semiconductor products for the electronics market. It offers embedded and expandable storage, radio frequency integrated circuits, and embedded graphics. The company was founded in November 2005 and is headquartered in Hong Kong.