BofA and B. Riley Raise Silicon Motion Price Target to $450

Bank of America (BofA) and B. Riley have raised the price target for Silicon Motion Technology Corporation (NASDAQ:SIMO) to $450, while maintaining a Buy rating, according to reports dated May 28.

Rating Change

• Previous Price Target (BofA): $320
• New Price Target (BofA): $450
• New Price Target (B. Riley): $450
• Rating: Buy (from both analysts)

Analyst Rationale

BofA revised its EPS estimates upward, citing stronger-than-expected sales in the semiconductor sector. Analysts also noted that Silicon Motion is benefiting from rising demand for storage solutions in data centers and PCs.

Context

Silicon Motion is among the top 10 best-performing growth stocks in 2026 so far. It has also received positive ratings from other analysts, reflecting market confidence in its growth prospects.

What to Make of It

The price target increase reflects positive expectations for the company's performance, but investors should consider market risks and the current valuation before making decisions.