Silicon Motion Technology Corp. (NASDAQ:SIMO)’s share price was up 3.8% on Friday . The stock traded as high as $52.28 and last traded at $50.74, with a volume of 888,171 shares changing hands. The stock had previously closed at $48.87.

Several equities analysts have weighed in on SIMO shares. Zacks Investment Research raised Silicon Motion Technology Corp. from a “hold” rating to a “strong-buy” rating and set a $64.00 target price on the stock in a research note on Thursday, July 21st. Susquehanna reissued a “positive” rating and issued a $56.00 target price (up previously from $48.00) on shares of Silicon Motion Technology Corp. in a research note on Wednesday, July 6th. Brean Capital reissued a “buy” rating on shares of Silicon Motion Technology Corp. in a research note on Monday, July 18th. Needham & Company LLC reissued a “buy” rating and issued a $47.00 target price on shares of Silicon Motion Technology Corp. in a research note on Wednesday, June 29th. Finally, Nomura reissued a “buy” rating and issued a $62.00 target price (up previously from $46.00) on shares of Silicon Motion Technology Corp. in a research note on Tuesday, July 12th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Silicon Motion Technology Corp. has an average rating of “Buy” and an average price target of $50.96.

The stock has a market capitalization of $1.78 billion and a price-to-earnings ratio of 22.506. The stock has a 50-day moving average price of $53.12 and a 200-day moving average price of $42.87.

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

A hedge fund recently raised its stake in Silicon Motion Technology Corp. stock. Principal Financial Group Inc. increased its position in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 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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