NEW YORK (

TheStreet

) -- Shares of

Silicon Motion Technology Corporation

(Nasdaq:

SIMO

) were gapping up Friday morning with an open price 14.8% higher than Thursday's closing price. The stock closed at $11.16 Thursday and opened today's trading at $12.81.

The average volume for Silicon Motion Technology has been 535,400 shares per day over the past 30 days. Silicon Motion Technology has a market cap of $333.5 million and is part of the

technology

sector and

electronics

industry. Shares are up 162.6% year to date as of the close of trading on Thursday.

Silicon Motion Technology Corporation, together with its subsidiaries, operates as a fabless semiconductor company. It designs, develops, markets, and supplies a portfolio of multimedia data processing, storage, and transfer solutions primarily for consumer electronics applications. The company has a P/E ratio of 27.2, above the S&P 500 P/E ratio of 17.

TheStreet Recommends

TheStreet Ratings rates Silicon Motion Technology as a

hold

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full

Silicon Motion Technology Ratings Report

.

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