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News Breaks
February 5, 2013
13:20 EDTSIMOSilicon Motion valuation compelling, says Needham
After Silicon Motion reported lower than expected Q4 results and provided weaker than expected Q1 guidance, Needham reduced its target on the shares to $20 from $23. However, the firm still sees a number of upcoming catalysts for the stock ,and it reiterates a Buy rating.
News For SIMO From The Last 14 Days
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April 27, 2015
18:03 EDTSIMOSilicon Motion sees FY15 revenue up 17%-25%
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18:03 EDTSIMOSilicon Motion sees Q2 revenue up 5%-10%
18:02 EDTSIMOSilicon Motion reports Q1 EPS 48c, consensus 49c
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10:02 EDTSIMOSilicon Motion upgraded to Buy from Hold at Standpoint Research
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April 24, 2015
07:06 EDTSIMOSilicon Motion agrees to acquire Shannon Systems for $57.5M
Silicon Motion Technology announced that it has entered into a definitive agreement to acquire Shannon Systems, a leading supplier of enterprise-class PCIe SSD and storage array solutions to China's internet and other industries. Under the terms of the agreement, Silicon Motion will acquire Shannon for a total purchase price of $57.5M, which includes a combination of cash, equity and contingency payments. The transaction has been approved by the boards of directors of both companies, is subject to customary closing conditions, including regulatory review and approval, and it is expected to close by the end of July.

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