B. Riley analyst Craig Ellis lowered the firm’s price target on Silicon Motion (SIMO) to $59 from $107 and keeps a Neutral rating on the shares after MaxLinear (MXL) cancelled its acquisition of the company. The analyst believes the high-$50’s is a reasonable standalone valuation for Silicon Motion.
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Read More on SIMO:
- Silicon Motion Announces Results for the Period Ended June 30, 2023
- Silicon Motion Repudiates MaxLinear’s Allegations and Intends to Enforce Merger Agreement
- Benchmark sees ‘attractive entry point’ for MaxLinear with deal overhang cleared
- MaxLinear downgraded to Hold from Buy at Craig-Hallum
- MaxLinear price target lowered to $45 from $50 at Wells Fargo