Silicon Image Stock Rating Lowered by Needham & Company (SIMG)

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Silicon Image (NASDAQ:SIMG) was downgraded by Needham & Company from a “buy” rating to a “hold” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. They currently have a $6.50 target price on the stock. Needham & Company’s price target points to a potential upside of 14.64% from the stock’s previous close.

Silicon Image (NASDAQ:SIMG) traded up 0.35% during mid-day trading on Friday, hitting $5.69. The stock had a trading volume of 268,729 shares. Silicon Image has a one year low of $4.51 and a one year high of $6.28. The stock has a 50-day moving average of $5.83 and a 200-day moving average of $5.50. The company has a market cap of $440.5 million and a price-to-earnings ratio of 38.31.

Silicon Image (NASDAQ:SIMG) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.03 by $0.02. The company had revenue of $61.40 million for the quarter, compared to the consensus estimate of $60.98 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. Analysts expect that Silicon Image will post $0.36 EPS for the current fiscal year.

Silicon Image, Inc (NASDAQ:SIMG) is a provider of connectivity solutions that enable the reliable distribution and presentation of HD content for mobile, consumer electronics (CE) and personal computer (PC) markets.

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