We recently published an article titled 12 Best Data Storage Stocks to Buy Right Now.
On February 5, Craig-Hallum raised its price target on Silicon Motion Technology Corporation (NASDAQ:SIMO) to $160 from $120 and maintained a Buy rating, citing market share gains and rising average selling prices amid sustained demand for its NAND flash controllers. While management expects near-term gross margin pressure in the March quarter due to rising memory costs, margins are projected to recover toward the 48%–50% range in subsequent quarters.
The previous day, Roth Capital raised its price target on Silicon Motion Technology Corporation to $140 from $120 and reiterated a Buy rating following solid fourth-quarter revenue growth and first-quarter guidance that exceeded consensus expectations. Management anticipates sequential growth throughout the year, supported by continued share gains in smartphones and notebooks. Expanding market share, improving pricing dynamics, and a path toward margin normalization strengthen the company’s earnings outlook and reinforce the long-term growth thesis.
Silicon Motion Technology Corporation develops and markets NAND flash controllers for solid-state storage devices, as well as SSD, microSD, and embedded storage solutions, serving global consumer and enterprise markets.
READ NEXT: 8 Up and Coming Streaming Companies and Services and 11 Best Canadian Growth Stocks to Buy According to Hedge Funds.
