Silicom’s (NASDAQ:SILC) Buy Rating Reaffirmed at Needham & Company LLC
Needham & Company LLC reissued their buy rating on shares of Silicom Ltd (NASDAQ:SILC) in a research note published on Tuesday. The firm currently has a $67.00 price target on the technology company’s stock, up from their previous price target of $60.00.
Separately, BidaskClub upgraded Silicom from a sell rating to a hold rating in a research note on Wednesday, July 12th.
Shares of Silicom (NASDAQ:SILC) opened at 52.96 on Tuesday. The stock has a market cap of $390.90 million, a PE ratio of 28.55 and a beta of 1.19. Silicom has a 52-week low of $34.46 and a 52-week high of $56.99. The company’s 50-day moving average price is $48.44 and its 200-day moving average price is $45.33.
Silicom (NASDAQ:SILC) last issued its earnings results on Monday, July 24th. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. The company had revenue of $30.30 million during the quarter, compared to analyst estimates of $28.33 million. Silicom had a return on equity of 11.94% and a net margin of 13.34%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. On average, equities research analysts forecast that Silicom will post $2.61 earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of SILC. TIAA CREF Investment Management LLC raised its position in shares of Silicom by 6.7% in the first quarter. TIAA CREF Investment Management LLC now owns 26,871 shares of the technology company’s stock worth $1,335,000 after buying an additional 1,688 shares during the period. Wellington Management Group LLP raised its position in shares of Silicom by 4.2% in the first quarter. Wellington Management Group LLP now owns 288,658 shares of the technology company’s stock worth $14,338,000 after buying an additional 11,700 shares during the period. Cadence Capital Management LLC purchased a new position in shares of Silicom during the first quarter worth about $1,603,000. American International Group Inc. raised its position in shares of Silicom by 7.2% in the first quarter. American International Group Inc. now owns 3,461 shares of the technology company’s stock worth $172,000 after buying an additional 232 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Silicom by 26.8% in the first quarter. Victory Capital Management Inc. now owns 2,179 shares of the technology company’s stock worth $108,000 after buying an additional 461 shares during the period. Institutional investors own 25.47% of the company’s stock.
Silicom Company Profile
Silicom Ltd. (Silicom) is engaged in the design, manufacture, marketing and support of networking and data infrastructure solutions for a range of servers, server-based systems and communications devices. The Company’s products include server network interface cards with and without bypass (Server Adapters); Intelligent and programmable cards, with features, such as encryption, acceleration, data compression, redirection, time stamping, network capture solutions, field programmable gate array (FPGA) based ultra-low latency solutions, and/or other offload features and/or compute blades (Smart Cards), and standalone Products.
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