Silicon Motion Technology is trading at $241.55, down -5.11%, after the company announced plans to offer $800 million in convertible senior notes due 2031, which is leading to investor concerns over potential share dilution. - This capital markets action is the primary driver for today's sell-off, as broader U.S. markets are only modestly weaker. - The announcement follows the company's robust second-quarter results, with adjusted EPS reaching $2.43, exceeding the $2.13 consensus estimate, and earnings surging 252% year over year.