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Shares of Silicon Motion Technology (NASDAQ:SIMO) hit a new 52-week high during mid-day trading on Tuesday, ARN reports. The stock traded as high as $17.36 and last traded at $16.95, with a volume of 2,178,408 shares trading hands. The stock had previously closed at $14.88.

SIMO has been the subject of a number of recent research reports. Analysts at Northland Securities raised their price target on shares of Silicon Motion Technology from $15.00 to $20.00 in a research note to investors on Tuesday. Separately, analysts at Topeka Capital Markets raised their price target on shares of Silicon Motion Technology from $16.00 to $20.00 in a research note to investors on Tuesday. Finally, analysts at Northland Capital Partners raised their price target on shares of Silicon Motion Technology from $15.00 to $20.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Silicon Motion Technology has an average rating of “Buy” and an average price target of $19.49.

Silicon Motion Technology has a 52 week low of $9.90 and a 52 week high of $16.19. The stock’s 50-day moving average is $14.37 and its 200-day moving average is $12.78. The company has a market cap of $563.5 million and a P/E ratio of 16.89.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.09. The company had revenue of $52.49 million for the quarter, compared to the consensus estimate of $51.82 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was down 25.7% on a year-over-year basis. Analysts expect that Silicon Motion Technology will post $1.09 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, February 25th. Investors of record on Tuesday, February 18th will be paid a dividend of 0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.03%.

Silicon Motion Technology Corporation (NASDAQ:SIMO) is a fabless semiconductor company that designs, develops and markets semiconductor solutions for the multimedia consumer electronics market.

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