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Silicon Motion Technology Corp. Message Board

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  • blue_devil_ninetynine blue_devil_ninetynine Apr 6, 2011 4:17 PM Flag

    Upgrade, Earnings, Pre Annouce or M&A???

    I think the upgrade is an unlikely driver in itself. I haven't seen an upgrade have this significant an impact. I know I wouldn't have bid up SIMO by 20% just knowing that an analyst had put a $12 price target on it. Those guys are a dime a dozen, and they're wrong as often as they are right.

    Earnings leak would probably be my top guess, but they'd have to be beating numbers by a sizable margin for the stock to jump as it did.

    Potential acquisition rumor/leak would be my second guess.

    And an incompetent buyer would be my third guess (highly unlikely for a buyer this size to be so unsophisticated).

    I'm curious to see if there is follow-through on this move over the next few days. If it is an earnings leak or an M&A leak, what's the magnitude of the news. Let's wait and see.

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    • My conspiracy theory is:
      There's a leak, resulting in the glowing price target (considering this is new coverage for them).
      Then the momo mama's taking it to a whole other level

      or Wedbush is bidding the price up to hit their 7.50 price target by a mile - another conspiracy theory


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