Silicom (NASDAQ:SILC) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Silicom shares rose above their 200-day moving average, trading as high as $54.25 and last changing hands at $52.30, compared with the 200-day average of $38.96.
• Analyst views remain mixed: Needham upgraded the stock to “Buy” with a $60 target, while Weiss Ratings maintained a “Sell” rating. The overall consensus is “Hold,” with an average target price of $60.
• Silicom beat quarterly expectations, reporting an adjusted loss of $0.16 per share versus the $0.24 estimate and revenue of $23.81 million versus $20.58 million expected. However, insiders sold roughly 48,041 shares worth $2.33 million over the past three months.

Silicom Ltd (NASDAQ:SILC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $38.96 and traded as high as $54.25. Silicom shares last traded at $52.30, with a volume of 120,625 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on SILC shares. Weiss Ratings restated a "sell (d-)" rating on shares of Silicom in a research report on Thursday, July 30th. Needham & Company LLC raised Silicom from a "hold" rating to a "buy" rating and set a $60.00 target price on the stock in a research note 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 currently has a consensus rating of "Hold" and an average target price of $60.00.

Silicom Stock Up 1.8%

The company's fifty day simple moving average is $43.94 and its two-hundred day simple moving average is $38.96. The company has a market capitalization of $300.73 million, a price-to-earnings ratio of -30.58 and a beta of 1.57.

Silicom (NASDAQ:SILC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.08. Silicom had a negative net margin of 12.98% and a negative return on equity of 8.37%. The company had revenue of $23.81 million during the quarter, compared to analyst estimates of $20.58 million.

Insiders Place Their Bets

In other Silicom news, Director Avinoam Eizenman sold 20,000 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $50.50, for a total value of $1,010,000.00. Following the completion of the transaction, the director directly owned 168,736 shares of the company's stock, valued at approximately $8,521,168. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Liron Eizenman sold 18,072 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $48.53, for a total value of $877,034.16. Following the completion of the sale, the chief executive officer owned 9,928 shares of the company's stock, valued at $481,805.84. This trade represents a 64.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,041 shares of company stock valued at $2,331,789 in the last three months. Insiders own 25.38% of the company's stock.

Institutional Investors Weigh In On Silicom

Several institutional investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Silicom during the 2nd quarter worth approximately $34,000. Renaissance Technologies LLC acquired a new stake in shares of Silicom in the first quarter valued at approximately $537,000. Finally, First Wilshire Securities Management Inc. raised its holdings in shares of Silicom by 3.6% in the first quarter. First Wilshire Securities Management Inc. now owns 315,642 shares of the technology company's stock valued at $6,660,000 after purchasing an additional 10,834 shares during the last quarter. Institutional investors own 52.85% of the company's stock.

About Silicom

Silicom Ltd. is an Israeli technology company that designs, develops, manufactures and markets high-performance networking and data infrastructure solutions. Its products are used to improve network visibility, security, performance and reliability in data centers, telecommunications networks, cloud environments and enterprise systems.

The company's product portfolio includes network interface cards, intelligent and programmable adapters, server connectivity solutions, network bypass products, packet-processing and traffic-management platforms, and specialized hardware for network security and performance acceleration.

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