Craig-Hallum Maintains Buy on Silicon Motion Technology, Lowers Price Target to $106
Portfolio Pulse from Benzinga Newsdesk
Craig-Hallum analyst Anthony Stoss maintains a 'Buy' rating on Silicon Motion Technology (NASDAQ:SIMO) but has lowered the price target from $120 to $106.
July 24, 2023 | 6:47 pm
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Silicon Motion Technology's price target has been lowered from $120 to $106 by Craig-Hallum, though the 'Buy' rating is maintained.
The lowering of the price target could potentially create a negative sentiment among investors, which might put downward pressure on the stock price. However, the maintained 'Buy' rating indicates that the analyst still sees potential in the company, which could counteract the negative sentiment to some extent.
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