Silicon Motion slides after announcing $800 mln 0% convertible bond deal
10/08/2026 14:17
BUZZ-Silicon Motion slides after announcing $800 mln 0% convertible bond deal ** Shares of Taiwan-headquartered Silicon Motion Technology SIMO.O down 9.7% at $231.26 premarket as it looks to raise capital
** Maker of NAND flash controllers for solid-state storage devices announces private offering of $800 mln 0% convertible bonds (CBs) due Aug 15, 2031
** Co intends to use net proceeds for general purposes and repay outstanding amounts under its credit agreement
** Through Fri close, SIMO stock up 176% YTD for about $8.7 bln market cap
** 11 of 12 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT of $350 up from $262.12 a month ago, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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