Silicon Motion Technology Corp. (NASDAQ:SIMO) saw an uptick in trading volume on Thursday . 848,387 shares traded hands during trading, an increase of 81% from the previous session’s volume of 467,714 shares.The stock last traded at $48.47 and had previously closed at $50.95.

A number of brokerages have commented on SIMO. B. Riley restated a “buy” rating and set a $47.75 price objective on shares of Silicon Motion Technology Corp. in a research report on Monday, June 27th. Brean Capital restated a “buy” rating on shares of Silicon Motion Technology Corp. in a research report on Wednesday, April 27th. Susquehanna restated a “buy” rating and set a $48.00 price objective (up previously from $46.00) on shares of Silicon Motion Technology Corp. in a research report on Thursday, April 28th. Zacks Investment Research downgraded shares of Silicon Motion Technology Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 8th. Finally, Nomura restated a “buy” rating and set a $62.00 price objective (up previously from $46.00) on shares of Silicon Motion Technology Corp. in a research report on Tuesday, July 12th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Silicon Motion Technology Corp. has a consensus rating of “Buy” and an average target price of $50.96.

The company’s 50 day moving average price is $53.09 and its 200 day moving average price is $42.82. The firm has a market cap of $1.72 billion and a PE ratio of 21.77.

Silicon Motion Technology Corp. (NASDAQ:SIMO) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Equities analysts anticipate that Silicon Motion Technology Corp. will post $3.26 earnings per share for the current year.

A hedge fund recently raised its stake in Silicon Motion Technology Corp. stock. Principal Financial Group Inc. raised its position in Silicon Motion Technology Corp. (NASDAQ:SIMO) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 398,067 shares of the company’s stock after buying an additional 2,473 shares during the period. Principal Financial Group Inc. owned about 1.14% of Silicon Motion Technology Corp. worth $12,483,000 at the end of the most recent reporting period.

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.