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Silicon Motion price target raised to $100 from $90 at BofA

BofA raised the firm’s price target on Silicon Motion (SIMO) to $100 from $90 and keeps a Buy rating on the shares. The company reported better-than-expected Q2 sales and operating margin, exceeding guidance, consensus, and the firm’s estimate, the analyst tells investors in a research note. The firm added that the company’s new growth opportunity should come from enterprise solutions branded under MonTitan.

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