Silicom (NASDAQ:SILC) Shares Pass Above 200-Day Moving Average – Here’s Why

Silicom Ltd (NASDAQ:SILC) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $34.32 and traded as high as $43.93. Silicom shares last traded at $43.29, with a volume of 116,538 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on SILC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicom in a research note on Thursday, July 30th. Needham & Company LLC upgraded 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. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Silicom presently has an average rating of “Hold” and a consensus target price of $60.00.

Silicom Stock Up 6.0%

The stock has a 50-day moving average of $42.99 and a 200 day moving average of $34.50. The stock has a market cap of $273.87 million, a PE ratio of -27.85 and a beta of 1.55.

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

Insider Activity at Silicom

In other Silicom news, Director Avinoam Eizenman sold 20,000 shares of the stock in a transaction dated 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 sale, the director directly owned 168,736 shares of the company’s stock, valued at approximately $8,521,168. This trade represents a 10.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eran Gilad sold 7,000 shares of Silicom stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $44.45, for a total value of $311,150.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,072 shares of company stock worth $2,198,184 over the last three months. Company insiders own 25.38% of the company’s stock.

Institutional Trading of Silicom

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Silicom during the 2nd quarter worth about $34,000. Renaissance Technologies LLC acquired a new stake in Silicom in the 1st quarter valued at about $537,000. First Wilshire Securities Management Inc. increased its holdings 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 purchasing an additional 10,834 shares during the last quarter. Barclays PLC raised its holdings 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 during the period. Finally, Hudson Bay Capital Management LP acquired a new position in Silicom in the 4th quarter valued at about $3,306,000. 52.85% of the stock is owned by institutional investors and hedge funds.

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.