Silicom (NASDAQ:SILC) Share Price Passes Above 200 Day Moving Average - Here's Why

Silicom Ltd (NASDAQ:SILC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.42 and traded as high as $15.68. Silicom shares last traded at $15.68, with a volume of 4,576 shares.

Wall Street Analyst Weigh In

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

Silicom Stock Up 2.4%

The company's 50-day simple moving average is $15.14 and its 200-day simple moving average is $15.41. The stock has a market cap of $89.47 million, a price-to-earnings ratio of -8.13 and a beta of 0.93.

Institutional Trading of Silicom

Large investors have recently made changes to their positions in the company. Northern Trust Corp acquired a new position in shares of Silicom during the fourth quarter worth about $1,050,000. Systematic Financial Management LP lifted its holdings in shares of Silicom by 4.2% in the fourth 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 in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Silicom in the fourth quarter worth $266,000. Worth Venture Partners LLC increased its stake 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 worth $1,371,000 after acquiring an additional 12,662 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Silicom in the first quarter worth $151,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Silicom Company Profile

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.