Silicon Motion price target raised to $135 from $125 at B. Riley

B. Riley raised the firm’s price target on Silicon Motion (SIMO) to $135 from $125 and keeps a Buy rating on the shares. December tech supply chain sales in Taiwan showed mixed results versus seasonality, with AI Servers/PCs, Memory Modules, and Analog outperforming, while other sub-sectors remained benign, the analyst tells investors in a research note. Trends appear aligned with on-cycle chip company guidance, supported by rising AI investment confidence, driven by Nvidia (NVDA)-led initiatives, which is boosting demand for NAND, DRAM/HBM, and related storage system components, the firm says.