Silicon Motion price target raised to $180 from $150 at Wedbush

Wedbush raised the firm’s price target on Silicon Motion (SIMO) to $180 from $150 and keeps an Outperform rating on the shares. The firm is expecting a solid Q1 result and reiteration of full year expectations. Further, Wedbush expects YMTC bits will remain a tailwind with Silicon Motion continuing to enable Chinese handset builds, even if YMTC growth does not appear to be as strong as the firm expected entering the year.