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SIMO

Silicon Motion

$41.11

-0.44 (-1.06%)

18:02
07/31/17
07/31
18:02
07/31/17
18:02

Silicon Motion announces new $200M share repurchase program

Silicon Motion announced that its Board of Directors has authorized a new program for the company to repurchase up to $200M of its ADS over a 12 month period. Separately, Silicon Motion executive officers have notified the company that they intend to purchase $2.5M of its ADSs. The plan does not obligate the company to acquire any particular amount of ADS, and it may be suspended at any time at the company's discretion. The company's CEO, CFO and several other executive officers have notified us of their intention to acquire within the next 6 months a total of up to $2.5M of the company's ADSs, subject to compliance with relevant securities laws and regulations and company policies.

  • 01

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SIMO Silicon Motion
$41.11

-0.44 (-1.06%)

06/06/17
LOOP
06/06/17
NO CHANGE
Target $61
LOOP
Buy
Silicon Motion price target increased to $61 from $53 at Loop Capital
Loop Capital analyst Betsy Van Hees increased her price target on Silicon Motion (SIMO) to $61 from $53 as she views it as well positioned with leading NAND suppliers, particularly Intel (INTC), to benefit from improving NAND supply. The analyst, who continues to expect NAND supply to improve in the second half of this year, keeps a Buy rating on Silicon Motion.
06/06/17
STPT
06/06/17
DOWNGRADE
STPT
Reduce
Silicon Motion downgraded to Reduce from Buy at Standpoint Research
07/10/17
LOOP
07/10/17
NO CHANGE
Target $54
LOOP
Buy
Silicon Motion price target lowered to $54 from $61 at Loop Capital
Loop Capital analyst Betsy Van Hees noted that Silicon Motion pre-announced lower than expected Q2 revenue, which management primarily attributed to tight NAND flash supply. She now expects the company to guide Q3 below consensus and cut its FY17 revenue outlook due to the NAND uncertainty, she tells investors. Van Hees lowered her price target on Silicon Motion to $54 from $61 and recommends investors "let all the bad news get priced into the stock" before stepping in, though she keeps a Buy rating on the name, citing valuation.
07/10/17
ROTH
07/10/17
NO CHANGE
Target $60
ROTH
Buy
Silicon Motion shares should recover, says Roth Capital
Roth Capital analyst Suji Desilva notes that Silicon Motion preannounced Q2 revenue slightly below the low-end of previous guidance, likely reflecting impact of continued near-term enterprise NAND Flash tightness, offsetting PC and smartphone demand tracking to expectations. The analyst expects Silicon Motion's shares to find a support level and recover, as investors look past near-term weakness toward what will likely be a more back-end loaded 2017 versus typical seasonal patterns. Desilva reiterates a Buy rating and $60 price target on the shares.

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