Silicom (NASDAQ:SILC) Stock Crosses Above 200 Day Moving Average – Here’s Why

Silicom Ltd (NASDAQ:SILC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $29.11 and traded as high as $44.80. Silicom shares last traded at $44.06, with a volume of 192,633 shares traded.

Analysts Set New Price Targets

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 report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $60.00.

Silicom Stock Performance

The company has a market capitalization of $253.34 million, a price-to-earnings ratio of -22.83 and a beta of 1.54. The firm’s 50-day simple moving average is $43.73 and its 200-day simple moving average is $29.11.

Silicom (NASDAQ:SILC) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $19.10 million during the quarter, compared to analyst estimates of $16.97 million.

Insider Buying and Selling

In other news, VP David Hendel sold 1,000 shares of Silicom stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $44.37, for a total transaction of $44,370.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Liron Eizenman sold 8,900 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $45.23, for a total value of $402,547.00. Following the sale, the chief executive officer owned 15,500 shares in the company, valued at approximately $701,065. This represents a 36.48% decrease in their ownership of the stock. 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Silicom

A number of institutional investors have recently bought and sold shares of SILC. Bank of America Corp DE acquired a new position in shares of Silicom in the 4th quarter valued at $29,000. Goldman Sachs Group Inc. acquired a new stake in shares of Silicom during the 1st quarter valued at about $151,000. Citadel Advisors LLC increased its stake in Silicom by 7.3% in the third quarter. Citadel Advisors LLC now owns 16,492 shares of the technology company’s stock valued at $292,000 after acquiring an additional 1,117 shares during the period. Susquehanna International Group LLP acquired a new position in Silicom in the third quarter worth about $277,000. Finally, Nano Cap New Millennium Growth Fund L P bought a new position in Silicom during the fourth quarter worth about $2,639,000. Institutional investors and hedge funds 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.