NEW YORK (

TheStreet

) --

Silicon Motion Technology Corporation

(Nasdaq:

SIMO

) hit a new 52-week high Friday as it is currently trading at $17.06, above its previous 52-week high of $17 with 84,954 shares traded as of 9:50 a.m. ET. Average volume has been 585,500 shares over the past 30 days.

Silicon Motion Technology has a market cap of $488.4 million and is part of the

technology

sector and

electronics

industry. Shares are up 289.4% year to date as of the close of trading on Thursday.

Silicon Motion Technology Corporation, a fabless semiconductor company, designs, develops, and supplies a portfolio of multimedia data processing, storage, and transfer solutions primarily for consumer electronics applications.

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TheStreet Ratings rates Silicon Motion Technology as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full

Silicon Motion Technology Ratings Report

.

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