Silicon Motion price target raised to $250 from $160 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Silicon Motion (SIMO) to $250 from $160 and keeps a Buy rating on the shares. The firm notes the stock was up 45% on the strong print, but Craig-Hallum continues to like the risk-reward owning shares and the company’s datacenter business, with a market leading solution, is just now ramping. The firm highlights share expansion and increasing ASPs as strong demand remains for their controllers.