Needham Maintains Buy on Silicon Motion Technology, Lowers Price Target to $75
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Quinn Bolton maintains a Buy rating on Silicon Motion Technology (NASDAQ:SIMO) but lowers the price target from $94 to $75.
November 01, 2024 | 9:45 am
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Needham analyst Quinn Bolton continues to recommend buying Silicon Motion Technology (NASDAQ:SIMO) shares but has reduced the price target from $94 to $75, indicating a more cautious outlook.
The maintained Buy rating suggests continued confidence in the stock's potential, but the lowered price target reflects a more cautious stance, possibly due to market conditions or company performance. This mixed signal may lead to neutral short-term price movement.
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