Silicon Motion Technology Corporation (SIMO) has risen sharply, recording gains of 17.46% in the past 4 weeks. However, the stock has corrected -2.29% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 10.03% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Silicon Motion Technology Corporation (NASDAQ:SIMO): The stock opened at $53.39 on Friday but the bulls could not build on the opening and the stock topped out at $54.11 for the day. The stock traded down to $49.78 during the day, due to lack of any buying support eventually closed down at $51.53 with a loss of -4.34% for the day. The stock had closed at $53.87 on the previous day. The total traded volume was 2,123,889 shares.
The stock has recorded a 20-day Moving Average of 2.97% and the 50-Day Moving Average is 11.46%. Silicon Motion Technology Corp. is up 28.29% in the last 3-month period. Year-to-Date the stock performance stands at 65.76%.
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.