Silicon Motion initiated with an Outperform at William Blair

William Blair initiated coverage of Silicon Motion (SIMO) with an Outperform rating and no price target Silicon Motion is a leading provider of merchant controllers for solid state drives, the analyst tells investors in a research note. The firm says the company works with all the top NAND manufacturers to develop flash-agnostic controllers. Blair believes the technology upgrade cycle should drive a growth reacceleration across Silicon Motion’s core businesses.