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Silicon Motion Technology Corporation (SIMO) is a fabless semiconductor company.
It designs, develops, and markets semiconductor solutions for mobile storage and mobile communications markets.
It provides mobile storage products, including microcontrollers used in solid state storage devices, such as solid state drives, eMMCs, and other embedded flash applications, as well as removable storage products, such as flash memory card controllers and USB flash drive controllers; and mobile communications products, such as mobile TV SoCs and handset transceivers.
Its products are used in smartphones, tablets, digital cameras, notebooks, desktop PCs, and industrial and commercial applications. The companys mobile storage products are marketed under the SMI brand and mobile communications products under the FCI brand.
It markets and sells products through direct sales personnel and independent electronics distributors to original equipment manufacturers and module makers worldwide. Shares have formed a bullish "cup and handle" following the company's recent quarterly report. Higher share prices are expected for this stock.
52-Week Trading Range: $10.85 - $27.34
Entry Point: $27.00
Stop Loss: $25.65
Target Price: $29.70
We are closing SIMO position after its 30-day expired without reaching our target price. Closed at $26.70.
