Silicon Image Up 18% After Hitting 52-Week High (SIMG)

Shares of Sunnyvale, California-based Silicon Image, Inc. SIMG are currently up 18% at $9.11 per share during Friday afternoon trading. Today's trading range for shares of Silicon Image, Inc has been between $8.26 and a 52-week high of $9.33 per share. The consensus price target of analysts covering the company's stock is $9.00 per share. Volume of 5 million shares shares is already more than 4 times the daily average volume of 1.2 million shares. Silicon Image, Inc. (SIMG) released financial results late on Thursday that easily beat Wall Street estimates. Silicon Image, Inc reported 4th quarter adjusted earnings of 7 cents per share, on revenue of $52.0 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 3 cents per share, on revenue of $46.95 million. Silicon Image, Inc is a leading provider of advanced, interoperable connectivity solutions that enable the reliable distribution and presentation of high-definition (HD) content for consumer electronics, mobile, and PC markets. Read more from Benzinga's Company news.