Silicom Ltd. (NASDAQ:SILC) Sees Large Decline in Short Interest

Silicom Ltd. (NASDAQ:SILC - Get Free Report) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,600 shares, a drop of 60.0% from the March 15th total of 4,000 shares. Based on an average daily trading volume, of 23,600 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company's stock are sold short.

Silicom Stock Performance

Silicom stock traded up $0.20 during mid-day trading on Friday, reaching $13.64. The company's stock had a trading volume of 3,597 shares, compared to its average volume of 24,783. The business's 50 day simple moving average is $15.05 and its 200 day simple moving average is $15.06. Silicom has a 12 month low of $11.35 and a 12 month high of $18.24. The company has a market capitalization of $92.21 million, a price-to-earnings ratio of -6.82 and a beta of 0.98.

Silicom (NASDAQ:SILC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.44). Silicom had a negative net margin of 20.66% and a negative return on equity of 8.83%.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a "hold" rating on shares of Silicom in a research note on Monday, February 3rd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE bought a new position in Silicom during the fourth quarter worth $29,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Silicom in the fourth quarter valued at approximately $266,000. Northern Trust Corp bought a new position in shares of Silicom during the fourth quarter worth approximately $1,050,000. Acuitas Investments LLC lifted its holdings in Silicom by 44.2% during the 4th quarter. Acuitas Investments LLC now owns 104,379 shares of the technology company's stock worth $1,702,000 after purchasing an additional 31,990 shares during the last quarter. Finally, Systematic Financial Management LP boosted its stake in Silicom by 4.2% in the 4th quarter. Systematic Financial Management LP now owns 510,357 shares of the technology company's stock valued at $8,324,000 after purchasing an additional 20,727 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

About Silicom

Silicom Ltd., together with its subsidiaries, designs, manufactures, markets, and supports networking and data infrastructure solutions for servers, server-based systems, and communications devices. It offers server network interface cards; and smart cards, such as smart server adapters, which include redirector and switching cards, encryption and data compression hardware acceleration cards, forward error correction acceleration and offloading cards, time synchronization cards, and field programmable gate array-based cards.