Silicon Motion Technology Corporation (SIMO) Shares are Up 3.04%

Silicon Motion Technology Corporation (SIMO) has been under a strong bear grip, hence the stock is down -2.73% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.87% in the past 1 week. The stock has risen by 3.04% in the past week indicating that the buyers are active at lower levels, but the stock is down -3.25% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 0.68% and the 50-Day Moving Average is 0.72%.The 200 Day SMA reached 24.93%

Silicon

Silicon Motion Technology Corporation (NASDAQ:SIMO): After opening at $51.88, the stock dipped to an intraday low of $51.7704 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $53.3 and the buying power remained strong till the end. The stock closed at $51.79 for the day, a gain of 0.15% for the day session. The total traded volume was 660,909. The stocks close on the previous trading day was $51.79.

Silicon Motion Technology Corporation (SIMO) stock is expected to deviate a maximum of $13.1 from the average target price of $51.59 for the short term period. 11 Street Experts have initiated coverage on the stock with the most promising target being $67 and the most muted being $22.

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 Companys 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. For the mobile communications market, the Companys products are mobile communication transceivers and mobile television (TV) System on Chips (SoCs). The Companys products are used in smartphones, tablets, notebooks, desktop personal computers, and industrial and commercial applications. The Company markets its mobile storage products under the SMI brand and mobile communications products under the FCI brand.

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