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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.