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

Shares of Silicom Ltd (NASDAQ:SILC) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $41.73 and traded as high as $42.90. Silicom shares last traded at $40.37, with a volume of 201,273 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings reiterated 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 issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $60.00.

Silicom Stock Down 7.4%

The firm has a market capitalization of $232.13 million, a price-to-earnings ratio of -23.61 and a beta of 1.56. The company has a fifty day moving average price of $47.22 and a two-hundred day moving average price of $41.73.

Silicom (NASDAQ:SILC) last announced its earnings results on Wednesday, July 29th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The business had revenue of $23.81 million for 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%.

Insider Buying and Selling at Silicom

In other Silicom news, CEO Liron Eizenman sold 18,072 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $48.53, for a total transaction of $877,034.16. Following the transaction, the chief executive officer directly owned 9,928 shares of the company’s stock, valued at approximately $481,805.84. This trade represents a 64.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Avinoam Eizenman sold 20,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $50.50, for a total transaction of $1,010,000.00. Following the transaction, the director directly owned 168,736 shares in the company, valued at $8,521,168. The trade was a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,041 shares of company stock worth $2,331,789 in the last quarter. 25.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Silicom

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in Silicom in the 1st quarter valued at about $537,000. First Wilshire Securities Management Inc. raised its stake in Silicom by 3.6% during the 1st quarter. First Wilshire Securities Management Inc. now owns 315,642 shares of the technology company’s stock valued at $6,660,000 after acquiring an additional 10,834 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Silicom during the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Silicom Company Profile

Silicom Ltd. (NASDAQ: SILC) develops and supplies high-performance networking and data infrastructure solutions. Its products are designed for use in servers, network appliances and communications systems, helping customers manage, secure, accelerate and monitor data traffic across enterprise and service-provider environments.

The company’s product portfolio includes network interface cards and adapters, intelligent and programmable networking solutions, bypass switches, packet-capture and traffic-processing products, network packet brokers, and specialized acceleration and synchronization technologies.