Silicom (NASDAQ:SILC) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Silicom shares jumped above their 200-day moving average, trading as high as $45.01 and last changing hands at $43.90, up 5.5% on the day.
• Needham upgraded the stock to Buy and set a $60 price target, while MarketBeat’s consensus view remains Hold with a $60 target.
• Recent results showed a narrower-than-expected loss and better revenue, with Q1 EPS of -$0.25 versus estimates of -$0.36 and revenue of $19.1 million versus $16.97 million expected.

Silicom Ltd (NASDAQ:SILC - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $28.00 and traded as high as $45.01. Silicom shares last traded at $43.90, with a volume of 64,445 shares traded.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC raised Silicom from a "hold" rating to a "buy" rating and set a $60.00 target price for the company in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Silicom has a consensus rating of "Hold" and a consensus target price of $60.00.

Silicom Stock Up 5.5%

The company has a market cap of $252.43 million, a P/E ratio of -22.75 and a beta of 1.54. The business has a fifty day simple moving average of $43.55 and a two-hundred day simple moving average of $28.00.

Silicom (NASDAQ:SILC - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The technology company reported ($0.25) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $16.97 million.

Insider Activity at Silicom

In other Silicom news, VP David Hendel sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $44.37, for a total transaction of $44,370.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Liron Eizenman sold 8,900 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $45.23, for a total transaction of $402,547.00. Following the sale, the chief executive officer directly owned 15,500 shares of the company's stock, valued at approximately $701,065. This represents a 36.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,438 shares of company stock valued at $1,334,244 in the last three months. Corporate insiders own 25.38% of the company's stock.

Hedge Funds Weigh In On Silicom

A number of institutional investors have recently bought and sold shares of SILC. Nano Cap New Millennium Growth Fund L P purchased a new position in Silicom during the fourth quarter valued at approximately $2,639,000. Hudson Bay Capital Management LP bought a new stake in shares of Silicom during the 4th quarter valued at $3,306,000. Citadel Advisors LLC raised its position in shares of Silicom by 7.3% during the 3rd quarter. Citadel Advisors LLC now owns 16,492 shares of the technology company's stock valued at $292,000 after purchasing an additional 1,117 shares during the period. Susquehanna International Group LLP purchased a new position in shares of Silicom during the 3rd quarter valued at $277,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Silicom by 15.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 13,155 shares of the technology company's stock valued at $193,000 after buying an additional 1,751 shares in the last quarter. 52.85% of the stock is owned by institutional investors.

About Silicom

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.