Silicom (NASDAQ:SILC) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Silicom (NASDAQ:SILC) from a buy rating to a hold rating in a research note published on Friday morning, BidAskClub reports.

Other research analysts have also recently issued reports about the company. TheStreet raised Silicom from a c rating to a b- rating in a research report on Tuesday, October 29th. Needham & Company LLC reaffirmed a hold rating on shares of Silicom in a research report on Tuesday, November 12th.

Shares of SILC stock traded up $0.01 during trading hours on Friday, reaching $31.45. 900 shares of the company traded hands, compared to its average volume of 16,966. Silicom has a 12-month low of $28.59 and a 12-month high of $41.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.70 and a quick ratio of 3.80. The company has a market cap of $241.76 million, a P/E ratio of 13.71 and a beta of 0.69. The firm has a 50-day moving average price of $32.03 and a 200 day moving average price of $31.26.

Silicom (NASDAQ:SILC) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.07. Silicom had a return on equity of 10.91% and a net margin of 14.12%. The firm had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $23.62 million. During the same period in the previous year, the firm earned $0.62 EPS. The business’s quarterly revenue was down 22.5% on a year-over-year basis.

Several hedge funds have recently bought and sold shares of the company. Cardinal Capital Management lifted its holdings in Silicom by 1.9% in the 3rd quarter. Cardinal Capital Management now owns 21,924 shares of the technology company’s stock worth $692,000 after purchasing an additional 409 shares in the last quarter. ETF Managers Group LLC lifted its holdings in Silicom by 23.1% in the 2nd quarter. ETF Managers Group LLC now owns 10,299 shares of the technology company’s stock worth $333,000 after purchasing an additional 1,930 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Silicom by 285.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,031 shares of the technology company’s stock worth $98,000 after purchasing an additional 2,245 shares in the last quarter. State of Tennessee Treasury Department purchased a new position in Silicom in the 3rd quarter worth approximately $83,000. Finally, Worth Venture Partners LLC lifted its holdings in Silicom by 13.7% in the 2nd quarter. Worth Venture Partners LLC now owns 35,619 shares of the technology company’s stock worth $1,157,000 after purchasing an additional 4,284 shares in the last quarter. 45.38% of the stock is currently owned by hedge funds and other institutional investors.

About Silicom

Silicom Ltd., together with its subsidiaries, designs, manufactures, markets, and supports networking and data infrastructure solutions for a range of servers, server based systems, and communications devices in North America, Europe, and the Asia Pacific. It offers server network interface cards with and without bypass for the server networking industry.

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