Needham analyst Rajvindra Gill maintained a Buy rating on Silicon Motion (NASDAQ:SIMO) on Tuesday, setting a price target of $62, which is approximately 28.52% above the present share price of $48.24.
Gill expects Silicon Motion to post earnings per share (EPS) of $0.74 for the third quarter of 2020.
The current consensus among 6 TipRanks analysts is for a Moderate Buy rating of shares in Silicon Motion, with an average price target of $55.5.
The analysts price targets range from a high of $62 to a low of $47.
In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $132.77 million and a net profit of $24.17 million. The company's market cap is $1.7 billion.
According to TipRanks.com, Needham analyst Rajvindra Gill is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 6.1% and a 55.30% success rate.
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.