Silicom Ltd (NASDAQ:SILC) Sees Significant Growth in Short Interest

Silicom Ltd (NASDAQ:SILC) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 33,393 shares, a growth of 91.7% from the May 31st total of 17,416 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 150,252 shares, the short-interest ratio is currently 0.2 days.

Silicom Stock Performance

Shares of NASDAQ:SILC opened at $42.59 on Friday. The company has a market cap of $244.89 million, a PE ratio of -22.07 and a beta of 1.54. Silicom has a 52 week low of $13.34 and a 52 week high of $52.95. The firm has a 50 day simple moving average of $42.27 and a 200 day simple moving average of $27.01.

Silicom (NASDAQ:SILC) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.11. Silicom had a negative net margin of 16.57% and a negative return on equity of 9.30%. The firm had revenue of $19.10 million for the quarter, compared to analysts’ expectations of $16.97 million.

Insider Activity at Silicom

In other news, CFO Eran Gilad sold 6,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $44.18, for a total transaction of $265,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Yuval Karp sold 2,000 shares of the firm’s 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 29,438 shares of company stock worth $1,334,244. 25.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SILC. Renaissance Technologies LLC purchased a new stake in Silicom in the 1st quarter worth about $537,000. First Wilshire Securities Management Inc. grew 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 in the last quarter. Barclays PLC grew its stake in Silicom by 33.8% during the 4th quarter. Barclays PLC now owns 3,670 shares of the technology company’s stock valued at $54,000 after acquiring an additional 927 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Silicom in the 4th quarter valued at about $3,306,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Silicom by 15.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 13,155 shares of the technology company’s stock valued at $193,000 after purchasing an additional 1,751 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Silicom

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.