Long Position on SIMO @ $26.46 on 1/26/2015 (Momentum)

Silicon Motion Technology Corporation (SIMO) is a fabless semiconductor company.

The firm 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 company’s 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 & handle" and higher share prices are expected for this stock. Note that the firm reports today after the close. We expect a strong report from the company.

52-Weeks Trading Range: $14.54 to $28.96

Entry Point: $26.46

Stop Loss: $25.12

Target Price: $29.11

Updates

2/5/2015 9:53:17 AM

SIMO reached our target price. Closed at $29.59

Position closed on 2/5/2015 at price of $29.59 with a 11.83% gain in 10 days.

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