Silicom (NASDAQ:SILC) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Silicom shares rose above their 200-day moving average, trading as high as $44.80 and last changing hands at $44.06. The move came with volume of 192,633 shares, well above the stock’s 200-day average price of $29.11.
• Needham upgraded Silicom to “buy” from “hold” and set a $60 price target. MarketBeat data shows the stock currently has a consensus rating of “Hold” with an average target of $60.
• Recent earnings beat expectations, with Silicom reporting a smaller-than-expected loss of $0.25 per share versus an estimated $0.36 loss and revenue of $19.1 million versus $16.97 million expected. Insiders have also been selling shares, including director Avinoam Eizenman and VP David Castiel.

Silicom Ltd (NASDAQ:SILC - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $29.11 and traded as high as $44.80. Silicom shares last traded at $44.06, with a volume of 192,633 shares.

Analyst Ratings Changes

Separately, Needham & Company LLC upgraded shares of Silicom from a "hold" rating to a "buy" rating and set a $60.00 price target on the stock in a report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $60.00.

Silicom Stock Performance

The company has a market cap of $253.34 million, a P/E ratio of -22.83 and a beta of 1.54. The firm has a 50 day moving average price of $43.73 and a 200-day moving average price of $29.11.

Silicom (NASDAQ:SILC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.36) by $0.11. Silicom had a negative return on equity of 9.30% and a negative net margin of 16.57%.The business had revenue of $19.10 million for the quarter, compared to the consensus estimate of $16.97 million.

Insider Activity at Silicom

In other news, Director Avinoam Eizenman sold 9,023 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $44.66, for a total value of $402,967.18. Following the completion of the sale, the director directly owned 188,736 shares in the company, valued at approximately $8,428,949.76. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Castiel sold 2,000 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $48.00, for a total transaction of $96,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 29,438 shares of company stock valued at $1,334,244. 25.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE bought a new stake in Silicom during the fourth quarter valued at about $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Silicom in the second quarter worth about $34,000. Barclays PLC increased its stake in shares of Silicom by 33.8% in the fourth quarter. Barclays PLC now owns 3,670 shares of the technology company's stock worth $54,000 after purchasing an additional 927 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Silicom during the 1st quarter worth about $151,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Silicom during the 3rd quarter worth about $277,000. Institutional investors own 52.85% of the company's stock.

Silicom Company Profile

Silicom Ltd. is an Israel‐based provider of advanced networking infrastructure products designed to enhance data throughput, security, and functionality in enterprise, cloud, telecommunications, and edge‐computing environments. The company develops and manufactures a range of network interface cards (NICs), specialized adapters, and turnkey network appliances that support high‐performance packet processing, encryption, compression, and traffic optimization. Silicom's solutions are engineered to offload complex network functions from central processing units, enabling customers to achieve greater efficiency, reliability, and scalability in their data centers.

Founded in 1987 and headquartered in Lod, Israel, Silicom has grown from a niche hardware developer into a global supplier of connectivity and networking solutions.

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