Silicon Motion Technology shares are trading lower after B of A Securities downgraded the stock from Buy to Underperform and lowered its price target from $90 to $60.
Portfolio Pulse from Benzinga Newsdesk
Silicon Motion Technology shares are trading lower after B of A Securities downgraded the stock from Buy to Underperform and lowered its price target from $90 to $60.
August 16, 2024 | 2:44 pm
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Silicon Motion Technology shares are trading lower after B of A Securities downgraded the stock from Buy to Underperform and lowered its price target from $90 to $60.
The downgrade from Buy to Underperform by B of A Securities, along with a significant reduction in the price target from $90 to $60, is likely to negatively impact investor sentiment and lead to a short-term decline in the stock price.
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