Silicon Motion price target raised to $130 from $100 at BofA

BofA raised the firm’s price target on Silicon Motion (SIMO) to $130 from $100 and keeps a Buy rating on the shares. Given more favorable product mix with PCIe Gen 5, the firm expects Silicon Motion’s Q3 and Q4 earnings to exceed consensus, the analyst tells investors. The firm notes that it forecasts greater than $1.0B in revenue and 48% gross margin in 2026 on the back of a more bullish memory upturn.