Silicon Motion aims 20%-25% market share for eMMC in 2014, DigiTimes says Silicon Motion attained a 10%-15% global market share for eMMC MCUs in 2013 and is aiming for a share of 20%-25% for 2014, reports DigiTimes. CEO Wallace Kou adds that the company will focus on its 2014 operation on MCUs used in EMMC and SSDs. Reference Link
Silicon Motion downgraded to Underperform from Buy at BofA/Merrill BofA/Merrill downgraded Silicon Motion two notches to Underperform from Buy and lowered its price target to $19 from $37 on shares. The firm is more cautious on the memory chip sector given new developments of SK Group's "significantly higher capex budget" and Micron's unexpected FY16 capex hike. BofA/Merrill said excess capacity is now a concern and cut long-term earnings estimates for most memory chip stocks.
Silicon Motion upgraded to Overweight from Sector Weight at Pacific Crest Pacific Crest upgraded Silicon Motion to Overweight with a $32 price target based on growth opportunities and valuation. The firm is bullish on growth opportunities in client SSDs and greater market share, and views valuation as attractive.