NEW YORK ( TheStreet) -- Silicon Motion Technology Corporation (Nasdaq: SIMO) hit a new 52-week high Tuesday as it is currently trading at $20.55, above its previous 52-week high of $20.49 with 374,563 shares traded as of 10:25 a.m. ET. Average volume has been 778,100 shares over the past 30 days.

Silicon Motion Technology has a market cap of $631.6 million and is part of the technology sector and electronics industry. Shares are up 380.5% year to date as of the close of trading on Monday.

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. The company has a P/E ratio of 45.4, above the average electronics industry P/E ratio of 29.7 and above the S&P 500 P/E ratio of 17.7.

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, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Silicon Motion Technology Ratings Report.

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