BidaskClub Downgrades Silicom (SILC) to Sell

Silicom (NASDAQ:SILC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Separately, Needham & Company LLC upped their price target on Silicom from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, October 26th.

Shares of Silicom (NASDAQ SILC) traded down $1.15 during trading on Thursday, reaching $71.98. The company had a trading volume of 55,379 shares, compared to its average volume of 34,936. Silicom has a 1-year low of $34.86 and a 1-year high of $77.95. The company has a market capitalization of $531.33, a P/E ratio of 34.11 and a beta of 1.38.

Silicom (NASDAQ:SILC) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.04. Silicom had a return on equity of 12.77% and a net margin of 13.68%. The business had revenue of $32.30 million during the quarter, compared to the consensus estimate of $31.11 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. Silicom’s revenue was up 30.8% compared to the same quarter last year.

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Silicom by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 16,834 shares of the technology company’s stock worth $747,000 after buying an additional 600 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Silicom by 2.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 59,675 shares of the technology company’s stock valued at $2,647,000 after purchasing an additional 1,289 shares during the period. Cadence Capital Management LLC grew its stake in Silicom by 5.1% in the 3rd quarter. Cadence Capital Management LLC now owns 43,004 shares of the technology company’s stock valued at $2,516,000 after purchasing an additional 2,084 shares during the period. Wells Fargo & Company MN grew its stake in Silicom by 7.2% in the 2nd quarter. Wells Fargo & Company MN now owns 35,205 shares of the technology company’s stock valued at $1,562,000 after purchasing an additional 2,351 shares during the period. Finally, ETF Managers Group LLC bought a new position in Silicom in the 2nd quarter valued at $120,000. Institutional investors and hedge funds own 25.29% of the company’s stock.

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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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