Silicom (NASDAQ:SILC) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Silicom Ltd (NASDAQ:SILC) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

SILC has been the topic of several recent analyst reports. Needham & Company LLC raised shares of Silicom from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Thursday, July 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicom in a research report on Thursday, July 30th. 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, Silicom currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Silicom Stock Up 1.4%

The firm has a 50 day moving average price of $42.79 and a 200 day moving average price of $31.90. The stock has a market cap of $242.02 million, a PE ratio of -24.61 and a beta of 1.55.

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, topping 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 for the quarter, compared to analysts’ expectations of $20.58 million.

Insider Buying and Selling at Silicom

In other news, EVP Yuval Karp sold 2,000 shares of Silicom stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $50.00, for a total value of $100,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Eran Gilad sold 7,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $44.45, for a total value of $311,150.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 12,015 shares of company stock worth $552,300. 25.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Silicom

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new position in Silicom in the fourth quarter worth about $29,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Silicom in the 2nd quarter worth approximately $34,000. Barclays PLC raised its stake in shares of Silicom by 33.8% during the 4th quarter. Barclays PLC now owns 3,670 shares of the technology company’s stock worth $54,000 after acquiring an additional 927 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Silicom during the first quarter valued at approximately $151,000. Finally, Susquehanna International Group LLP purchased a new stake in Silicom during the third quarter valued at approximately $277,000. Institutional investors own 52.85% of the company’s stock.

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.