Silicon Motion announces new $200M share buyback plan; reiterates Q4 guidance

• 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.