Long Position on SIMO @ $34.40 on 6/11/2015 (Momentum)

Silicon Motion Technology Corporation (SIMO) designs, develops, and markets semiconductor solutions worldwide.

It offers mobile storage products, such as microcontrollers used in solid state storage devices comprising solid state drives, eMMCs, and other embedded flash applications, as well as removable storage products, including flash memory card controllers and USB flash drive controllers; and mobile communications products, such as mobile TV SoCs and handset transceivers.

The company’s products are used in smartphones, tablets, digital cameras, notebooks, desktop PCs, and industrial and commercial applications. Its mobile storage products are marketed under the SMI brand and mobile communications products under the FCI brand.

The company markets and sells its products through direct sales personnel and independent electronics distributors to original equipment manufacturers, module makers, and other customers in the mobile storage and mobile communications markets. 

Shares have formed a bullish "flag" following the company's recent quarterly results. Higher share prices are expected for this stock.

52-Weeks Trading Range: $17.76 - $35.95

Entry Point: $34.40

Stop Loss: $32.68

Target Price: $37.85

Updates

7/16/2015 1:05:43 PM

SIMO closed at $30.46

Position closed on 7/16/2015 at price of $30.46 with a -11.45% loss in 35 days.

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