Silicon Motion announces new $200M share buyback plan; reiterates Q4 guidance
Dec. 07, 2021 1:47 AM ETSilicon Motion Technology Corporation (SIMO)By: SA News Team
- Silicon Motion Technology (NASDAQ:SIMO) has authorized a new share repurchase program and approved related cash disbursement for the company to repurchase up to $200M of its ADSs over six month, effective immediately.
- The company also reaffirms its Q4 financial guidance as originally provided on its Q3 earnings release.
- As of September 30, 2021, the Company had ~$419.5M of cash, cash equivalents, restricted cash, and short-term investments.