Silicon Motion Technology Corp. (NASDAQ:SIMO)’s share price was up 4.8% during mid-day trading on Thursday . The company traded as high as $52.88 and last traded at $50.24, with a volume of 1,614,287 shares. The stock had previously closed at $47.94.

A number of equities analysts have recently issued reports on SIMO shares. Susquehanna reaffirmed a “buy” rating and set a $48.00 price target (up from $46.00) on shares of Silicon Motion Technology Corp. in a research report on Thursday, April 28th. B. Riley reaffirmed a “buy” rating and set a $47.75 price target on shares of Silicon Motion Technology Corp. in a research report on Thursday, April 28th. Brean Capital reaffirmed a “buy” rating on shares of Silicon Motion Technology Corp. in a research report on Wednesday, April 27th. Craig Hallum upped their price target on Silicon Motion Technology Corp. from $38.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, April 7th. Finally, Topeka Capital Markets upped their price target on Silicon Motion Technology Corp. from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, April 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $42.44.

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

Silicon Motion Technology Corp. (NASDAQ:SIMO) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The company had revenue of $112.68 million for the quarter, compared to analyst estimates of $106.23 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. Silicon Motion Technology Corp.’s revenue was up 39.7% compared to the same quarter last year. On average, equities research analysts predict that Silicon Motion Technology Corp. will post $2.91 earnings per share for the current year.

A number of large investors recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Silicon Motion Technology Corp. by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 398,067 shares of the company’s stock valued at $12,483,000 after buying an additional 2,473 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Silicon Motion Technology Corp. during the fourth quarter worth approximately $1,162,000. CG Asset Management LLC raised its position 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. Great West Life Assurance Co. Can acquired a new position in Silicon Motion Technology Corp. during the fourth quarter worth approximately $1,573,000. Finally, Royce & Associates LLC raised its position 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.

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.

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