Silicon Motion (SIMO) Received its Third Buy in a Row

After B.Riley FBR and Cowen & Co. gave Silicon Motion (NASDAQ: SIMO) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Rajvindra Gill maintained a Buy rating on Silicon Motion today and set a price target of $65.00. The company’s shares closed last Monday at $47.04.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 11.6% and a 58.3% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

Silicon Motion has an analyst consensus of Strong Buy, with a price target consensus of $56.88, implying a 15.0% upside from current levels. In a report issued on February 3, B.Riley FBR also maintained a Buy rating on the stock with a $65.00 price target.

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Silicon Motion’s market cap is currently $1.72B and has a P/E ratio of 30.95. The company has a Price to Book ratio of 3.01.

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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.