1 Thing That's Hurting Silicon Motion Technology Stock
On July 30, Silicon Motion (NASDAQ: SIMO), a company that provides controller chips for NAND flash-based storage products, reported its second-quarter financial results.
At a glance, the results weren't great: Revenue hit $132.7 million, representing a 6% year-over-year decline, and operating income dropped to $30.27 million, a reduction of 16.4% from the year prior.
Image source: Intel.
Source: Fool.com
Silicon Motion Technology Corp. ADR Stock
€63.50
-4.380%
The stock is an absolute favorite of our community with 23 Buy predictions and no Sell predictions.
As a result the target price of 80 € shows a positive potential of 25.98% compared to the current price of 63.5 € for Silicon Motion Technology Corp. ADR.
