BofA analyst Simon Woo upgraded Silicon Motion (SIMO) to Buy from Hold with a price target of $90, up from $55, citing three catalysts. Namely, the firm points to gradually increasing enterprise solution sales; resilient topline growth with high gross margins; and the potential for $160M-plus in deal break-up fees to be paid by MaxLinear (MXL) if Silicon Motion wins its Singapore arbitration case in late-Q4. Similar to memory chipmakers, Silicon Motion could also benefit from strongly growing sovereign AI investments by selling Enterprise solid-state drive controllers/boot-drivers, known as the MonTitan series, the analyst added.

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Disclaimer & DisclosureReport an Issue

• Silicon Motion upgraded to Buy from Neutral at BofA

• Silicon Motion price target raised to $90 from $70 at Roth Capital

• Silicon Motion price target raised to $90 from $75 at B. Riley

• Silicon Motion price target raised to $75 from $70 at B. Riley

• Simon Woo Maintains Neutral Rating on Silicon Motion Amid Mixed Financial Performance and Demand Risks