Silicon Motion Technology Corporation (NASDAQ:SIMO) : Traders are bullish on Silicon Motion Technology Corporation (NASDAQ:SIMO) as it has outperformed the S&P 500 by a wide margin of 15.94% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.8%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 9.18% in the last 1 week, and is up 17.81% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 73.36% from its 1 Year high price. On Jul 7, 2016, the shares registered one year high at $52.88 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $45.41 and the 200 Day Moving Average price is recorded at $37.44.
The stock has recorded a 20-day Moving Average of 13.71% and the 50-Day Moving Average is 20.07%.
Silicon Motion Technology Corporation (NASDAQ:SIMO): stock turned positive on Friday. Though the stock opened at $50.9, the bulls momentum made the stock top out at $52.68 level for the day. The stock recorded a low of $50.9 and closed the trading day at $52.2, in the green by 3.59%. The total traded volume for the day was 1,155,610. The stock had closed at $50.39 in the previous days trading.
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.