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Silicon Motion Technology Corporation (SIMO) is a fabless semiconductor company.
The firm 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 companys 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 "cup and handle" and higher share prices are expected.
52-Weeks Trading Range: $20.01 - $37.60
Entry Point: $29.00
Stop Loss: $27.50
Target Price: $31.90
SIMO closed at $31.90.
