UPDATE: Bank of America Initiates Coverage on Silicon Motion Technology on Good Potential Upside

In a report published Friday, Bank of America analyst Simon Dong-je Woo initiated coverage on Silicon Motion Technology Corp. (NASDAQ: SIMO ) with a Buy rating and $21.00 price target. In the report, Bank of America noted, “We initiate Silicon Motion (SIMO US) with a Buy rating. Our $21.0 price