Silicom Ltd (NASDAQ:SILC) Short Interest Update

Silicom Ltd (NASDAQ:SILC) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 117,033 shares, a growth of 103.5% from the June 30th total of 57,507 shares. Based on an average trading volume of 175,817 shares, the days-to-cover ratio is presently 0.7 days. Currently, 2.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC raised shares of Silicom from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.00.

Silicom Trading Up 10.2%

SILC opened at $38.48 on Friday. The stock has a market cap of $221.26 million, a PE ratio of -22.50 and a beta of 1.54. Silicom has a 1 year low of $13.34 and a 1 year high of $52.95. The stock’s 50 day simple moving average is $43.07 and its 200-day simple moving average is $30.87.

Silicom (NASDAQ:SILC) last issued its earnings results on Wednesday, July 29th. The technology company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. Silicom had a negative return on equity of 8.32% and a negative net margin of 12.98%.The firm had revenue of $23.81 million during the quarter, compared to analysts’ expectations of $20.58 million.

Insiders Place Their Bets

In other news, VP David Hendel sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $44.37, for a total value of $44,370.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP David Castiel sold 2,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $48.00, for a total transaction of $96,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,438 shares of company stock valued at $1,334,244 in the last 90 days. 25.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Silicom

A number of hedge funds and other institutional investors have recently made changes to their positions in SILC. Bank of America Corp DE bought a new stake in Silicom in the fourth quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in Silicom during the second quarter valued at approximately $34,000. Barclays PLC boosted its holdings in Silicom by 33.8% during the fourth quarter. Barclays PLC now owns 3,670 shares of the technology company’s stock valued at $54,000 after purchasing an additional 927 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Silicom in the 1st quarter valued at approximately $151,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Silicom in the 3rd quarter valued at approximately $277,000. 52.85% of the stock is owned by 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.