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Silicon Motion Technology Corp. (NASDAQ:SIMO) reached a new 52-week high on Tuesday , American Banking and Market News reports. The company traded as high as $27.59 and last traded at $27.59, with a volume of 327,781 shares. The stock had previously closed at $26.96.

A number of analysts have recently weighed in on SIMO shares. Analysts at B. Riley raised their price target on shares of Silicon Motion Technology Corp. from $27.50 to $32.00 in a research note on Thursday, July 31st. Separately, analysts at Craig Hallum reiterated a “buy” rating on shares of Silicon Motion Technology Corp. in a research note on Tuesday, July 29th. They now have a $30.00 price target on the stock, up previously from $25.00. Finally, analysts at Topeka Capital Markets raised their price target on shares of Silicon Motion Technology Corp. from $27.00 to $30.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.00.

The stock’s 50-day moving average is $24.77 and its 200-day moving average is $19.21. The company has a market cap of $939.6 million and a P/E ratio of 28.05.

Silicon Motion Technology Corp. (NASDAQ:SIMO) last announced its earnings results on Monday, July 28th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.09. The company had revenue of $69.41 million for the quarter, compared to the consensus estimate of $62.90 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Analysts expect that Silicon Motion Technology Corp. will post $1.52 EPS for the current fiscal year.

Silicon Motion Technology Corporation (NASDAQ:SIMO) is a holding company.

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