Silicom Ltd (NASDAQ:SILC) Earns Buy Rating from Needham & Company LLC

Silicom Ltd (NASDAQ:SILC)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Tuesday, July 25th. They currently have a $67.00 price objective on the technology company’s stock, up from their previous price objective of $60.00. Needham & Company LLC’s price objective indicates a potential upside of 28.21% from the company’s previous close.

Separately, BidaskClub raised shares of Silicom from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th.

Silicom (NASDAQ SILC) traded up 1.48% during mid-day trading on Tuesday, reaching $52.26. The company’s stock had a trading volume of 23,209 shares. The firm’s 50 day moving average price is $50.67 and its 200 day moving average price is $46.67. The firm has a market capitalization of $387.77 million, a P/E ratio of 27.01 and a beta of 1.22. Silicom has a 52 week low of $34.46 and a 52 week high of $56.99.

Silicom (NASDAQ:SILC) last announced its earnings results on Monday, July 24th. The technology company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Silicom had a net margin of 13.34% and a return on equity of 11.94%. The company had revenue of $30.30 million for the quarter, compared to analysts’ expectations of $28.33 million. During the same period last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, analysts anticipate that Silicom will post $2.74 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted 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 valued at $108,000 after buying an additional 461 shares in the last quarter. ETF Managers Group LLC acquired a new position in shares of Silicom during the second quarter valued at approximately $120,000. American International Group Inc. boosted 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 valued at $172,000 after buying an additional 232 shares in the last quarter. TFS Capital LLC purchased a new stake in Silicom during the first quarter valued at about $221,000. Finally, GSA Capital Partners LLP purchased a new stake in Silicom during the fourth quarter valued at about $242,000. 25.45% of the stock is currently owned by institutional investors.

About Silicom

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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