Silicon Motion price target lowered to $80 from $90 at Roth MKM

Roth MKM lowered the firm’s price target on Silicon Motion to $80 from $90 and keeps a Buy rating on the shares. Silicon Motion’s preliminary Q3 results included revenue and gross margin that was slightly above the mid-point of prior guidance, reflecting continued stabilization in memory end market demand and recovering mix and pricing, the analyst tells investors in a research note. The firm is encouraged by Silicon Motion’s incremental cloud and enterprise opportunities into calendar year 2025.