Silicon Motion Technology Corp. (NASDAQ:SIMO) shares saw unusually-strong trading volume on Friday . Approximately 743,101 shares changed hands during trading, an increase of 16% from the previous session’s volume of 640,328 shares.The stock last traded at $52.20 and had previously closed at $50.39.

A number of equities research analysts have issued reports on SIMO shares. Northland Securities increased their price objective on shares of Silicon Motion Technology Corp. from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, March 14th. Brean Capital restated a “buy” rating and issued a $45.00 price target (up from $38.00) on shares of Silicon Motion Technology Corp. in a research note on Wednesday, March 23rd. Ladenburg Thalmann downgraded shares of Silicon Motion Technology Corp. from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Wednesday, April 6th. Topeka Capital Markets raised their price target on shares of Silicon Motion Technology Corp. from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. Finally, Craig Hallum raised their price target on shares of Silicon Motion Technology Corp. from $38.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $42.44.

The stock’s 50 day moving average price is $45.41 and its 200 day moving average price is $37.44. The stock has a market cap of $1.83 billion and a price-to-earnings ratio of 27.16.

Silicon Motion Technology Corp. (NASDAQ:SIMO) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The firm earned $112.68 million during the quarter, compared to the consensus estimate of $106.23 million. Silicon Motion Technology Corp.’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. On average, equities analysts anticipate that Silicon Motion Technology Corp. will post $2.91 earnings per share for the current fiscal year.

Other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Silicon Motion Technology Corp. during the fourth quarter worth about $1,162,000. Great West Life Assurance Co. Can bought a new stake in Silicon Motion Technology Corp. during the fourth quarter worth approximately $1,573,000. CG Asset Management LLC boosted its stake in Silicon Motion Technology Corp. by 76.6% in the fourth quarter. CG Asset Management LLC now owns 97,820 shares of the company’s stock worth $3,068,000 after buying an additional 42,420 shares in the last quarter. Royce & Associates LLC boosted its stake in Silicon Motion Technology Corp. by 89.1% in the fourth quarter. Royce & Associates LLC now owns 204,400 shares of the company’s stock worth $6,410,000 after buying an additional 96,294 shares in the last quarter. Finally, Garelick Capital Partners LP bought a new stake in Silicon Motion Technology Corp. during the fourth quarter worth approximately $7,955,000.

Silicon Motion Technology Corporation (SMTC) is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. For the mobile storage market, the Company’s products are microcontrollers used in solid state storage devices, such as Solid State Drives (SSDs), Embedded Multimedia Cards (eMMCs) and other embedded flash applications, as well as removable storage products.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.