Silicom (NASDAQ:SILC) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Silicom Ltd's share price has surpassed its 200-day moving average of $15.33, reaching a high of $17.06 before closing at $16.59.
• Needham & Company has maintained a "hold" rating on Silicom shares, indicating cautious optimism about the stock's future performance.
• Institutional investors currently own 52.85% of Silicom's shares, demonstrating significant interest from hedge funds in the company's stock.

Shares of Silicom Ltd (NASDAQ:SILC - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.33 and traded as high as $17.06. Silicom shares last traded at $16.59, with a volume of 22,133 shares changing hands.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a "hold" rating on shares of Silicom in a research note on Tuesday, April 29th.

Silicom Stock Performance

The stock has a market capitalization of $90.49 million, a P/E ratio of -7.00 and a beta of 0.93. The company's fifty day simple moving average is $15.53 and its two-hundred day simple moving average is $15.30.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SILC. Bank of America Corp DE acquired a new position in shares of Silicom in the fourth quarter valued at about $29,000. Goldman Sachs Group Inc. acquired a new position in shares of Silicom in the first quarter valued at about $151,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Silicom in the fourth quarter valued at approximately $266,000. Northern Trust Corp acquired a new stake in shares of Silicom in the fourth quarter valued at approximately $1,050,000. Finally, Worth Venture Partners LLC raised its position in shares of Silicom by 15.9% in the first quarter. Worth Venture Partners LLC now owns 92,139 shares of the technology company's stock valued at $1,371,000 after buying an additional 12,662 shares in the last quarter. 52.85% of the stock is owned by institutional investors.

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.