Shares of Silicon Motion Technology Has Risen Above Previous 52-Week High
Silicon Motion Technology (NASDAQ:SIMO) traded today at a new 52-week high of $44.96. Approximately 82,000 shares have changed hands today, as compared to an average 30-day volume of 672,000 shares.
Silicon Motion Technology Corporation is a semiconductor company that designs, develops, and markets semiconductor products for the multimedia consumer electronics market. The Company's products include controllers used in mobile storage media and multimedia systems on a chip.
In the past 52 weeks, shares of Silicon Motion Technology have traded between a low of $20.01 and a high of $44.96 and are now at $44.72, which is 124% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.6%.
Based on a current price of $44.72, Silicon Motion Technology is currently 17.8% above its average consensus analyst price target of $36.75. The stock should discover initial support at its 50-day moving average (MA) of $37.13 and subsequent support at its 200-day MA of $31.17.
SmarTrend recommended that subscribers consider buying shares of Silicon Motion Technology on February 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.28. Since that recommendation, shares of Silicon Motion Technology have risen 42.9%. We continue to monitor SIMO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows silicon motion technology