There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Silicon Motion (SIMO – Research Report), Backblaze (BLZE – Research Report) and SkyWater Technology (SKYT – Research Report) with bullish sentiments.
Silicon Motion (SIMO)
Morgan Stanley analyst Ray Wu upgraded Silicon Motion to Buy on May 6 and set a price target of $88.00. The company’s shares closed last Wednesday at $78.72.
Currently, the analyst consensus on Silicon Motion is a Strong Buy with an average price target of $92.00, implying a 16.1% upside from current levels. In a report issued on May 3, Needham also maintained a Buy rating on the stock with a $85.00 price target.
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Backblaze (BLZE)
In a report released today, Ittai Kidron from Oppenheimer assigned a Buy rating to Backblaze, with a price target of $13.00. The company’s shares closed last Wednesday at $9.91.
According to TipRanks.com, Kidron is a 5-star analyst with an average return of
Currently, the analyst consensus on Backblaze is a Strong Buy with an average price target of $13.63, a 38.4% upside from current levels. In a report released yesterday, Lake Street also assigned a Buy rating to the stock with a $12.00 price target.
SkyWater Technology (SKYT)
In a report released today, Quinn Bolton from Needham maintained a Buy rating on SkyWater Technology, with a price target of $12.00. The company’s shares closed last Wednesday at $9.87.
According to TipRanks.com, Bolton is a top 100 analyst with an average return of
SkyWater Technology has an analyst consensus of Strong Buy, with a price target consensus of $13.67, implying a 33.4% upside from current levels. In a report issued on May 1, Craig-Hallum also maintained a Buy rating on the stock.
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Read More on SIMO:
- Micron upgraded, Peloton downgraded: Wall Street’s top analyst calls
- Silicon Motion price target raised to $96 from $80 at Craig-Hallum
- Silicon Motion price target raised to $105 from $101 at B. Riley
- Silicon Motion upgraded to Overweight from Equal Weight at Morgan Stanley
- Silicon Motion price target raised to $90 from $80 at BofA
