Silicom (NASDAQ:SILC) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of Silicom Ltd (NASDAQ:SILC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $31.65 and traded as high as $46.46. Silicom shares last traded at $44.12, with a volume of 117,355 shares.

Analyst Upgrades and Downgrades

SILC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicom in a research report on Thursday, July 30th. Needham & Company LLC upgraded Silicom from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.00.

Silicom Price Performance

The firm has a market capitalization of $253.69 million, a P/E ratio of -25.80 and a beta of 1.55. The firm has a 50-day moving average price of $42.79 and a two-hundred day moving average price of $31.65.

Silicom (NASDAQ:SILC) last issued its earnings results on Wednesday, July 29th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The firm had revenue of $23.81 million during the quarter, compared to analyst estimates of $20.58 million. Silicom had a negative net margin of 12.98% and a negative return on equity of 8.37%.

Insiders Place Their Bets

In other Silicom news, VP David Castiel sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $48.00, for a total value of $96,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP David Hendel sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $44.37, for a total transaction of $44,370.00. The SEC filing for this sale provides additional information. Insiders have sold 5,015 shares of company stock worth $241,150 in the last three months. Corporate insiders own 25.38% of the company’s stock.

Institutional Trading of Silicom

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new position in shares of Silicom during the fourth quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in Silicom during the second quarter worth $34,000. Barclays PLC boosted its position in Silicom by 33.8% during the 4th quarter. Barclays PLC now owns 3,670 shares of the technology company’s stock valued at $54,000 after acquiring an additional 927 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Silicom in the 1st quarter valued at $151,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Silicom in the 3rd quarter valued at $277,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Silicom Company Profile

Silicom Ltd. is an Israel‐based provider of advanced networking infrastructure products designed to enhance data throughput, security, and functionality in enterprise, cloud, telecommunications, and edge‐computing environments. The company develops and manufactures a range of network interface cards (NICs), specialized adapters, and turnkey network appliances that support high‐performance packet processing, encryption, compression, and traffic optimization. Silicom’s solutions are engineered to offload complex network functions from central processing units, enabling customers to achieve greater efficiency, reliability, and scalability in their data centers.

Founded in 1987 and headquartered in Lod, Israel, Silicom has grown from a niche hardware developer into a global supplier of connectivity and networking solutions.