(Bloomberg) — Silicon Motion Technology Corp. is exploring a potential sale amid takeover interest in the semiconductor firm, according to people familiar with the matter.
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The Taiwan-based company is working with advisers as it holds talks with potential suitors, said the people, who asked not to be identified because the deliberations are private. No final decision has been made and the company could still opt against a sale, the people said.
Silicon Motion’s American depositary receipts have fallen about 19% this year, giving it a market value of $2.7 billion. The shares gained in recent days amid takeover speculation in the market.
A representative for Silicon Motion declined to comment.
Silicon Motion makes NAND flash controllers for solid-state storage devices, according to its website. It also supplies data center and specialized industrial and automotive solid-state drives.
Founded in 1995 in San Jose, California, Silicon Motion has corporate offices in Taiwan, Hong Kong and the U.S., the website shows. The company reported net income of $60.6 million in the three months ended Dec. 31, a 9.4% increase from the third quarter.
(Updates with company response in fourth paragraph.)
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Source: https://finance.yahoo.com/news/silicon-motion-said-explore-sale-005320487.html