Silicom Ltd (NASDAQ:SILC) Short Interest Update

Silicom Ltd (NASDAQ:SILC) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 136,047 shares, a growth of 91.2% from the August 15th total of 71,137 shares. Currently, 3.2% of the company’s stock are sold short. Based on an average trading volume of 218,333 shares, the days-to-cover ratio is presently 0.6 days.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicom in a research report on Thursday, July 30th. Needham & Company LLC raised Silicom from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Silicom Price Performance

Shares of NASDAQ SILC traded down $0.21 during mid-day trading on Wednesday, reaching $42.48. 231,354 shares of the company’s stock were exchanged, compared to its average volume of 127,789. The firm has a market capitalization of $244.18 million, a price-to-earnings ratio of -24.84 and a beta of 1.57. Silicom has a 52 week low of $13.34 and a 52 week high of $52.95. The firm has a 50-day moving average price of $42.67 and a two-hundred day moving average price of $36.67.

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

Insider Activity

In related news, Director Yeshayhu Orbach sold 2,969 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $45.00, for a total transaction of $133,605.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Eran Gilad sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $44.45, for a total transaction of $311,150.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 48,041 shares of company stock worth $2,331,789. 25.38% of the stock is owned by insiders.

Institutional Investors Weigh In On Silicom

Large investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new position in Silicom during the second quarter valued at $34,000. Renaissance Technologies LLC bought a new stake in shares of Silicom in the first quarter valued at $537,000. First Wilshire Securities Management Inc. raised its stake in shares of Silicom by 3.6% in the first quarter. First Wilshire Securities Management Inc. now owns 315,642 shares of the technology company’s stock valued at $6,660,000 after buying an additional 10,834 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Silicom during the 4th quarter valued at $2,639,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Silicom Company Profile

Silicom Ltd. is an Israeli technology company that designs, develops, manufactures and markets high-performance networking and data infrastructure solutions. Its products are used to improve network visibility, security, performance and reliability in data centers, telecommunications networks, cloud environments and enterprise systems.

The company’s product portfolio includes network interface cards, intelligent and programmable adapters, server connectivity solutions, network bypass products, packet-processing and traffic-management platforms, and specialized hardware for network security and performance acceleration.