Silicom (NASDAQ:SILC) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Silicom Ltd. (NASDAQ:SILC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.07 and traded as high as $16.34. Silicom shares last traded at $16.31, with a volume of 24,130 shares changing hands.

Analysts Set New Price Targets

Separately, Needham & Company LLC assumed coverage on shares of Silicom in a report on Monday, November 4th. They set a “hold” rating on the stock.

Silicom Price Performance

The stock has a market cap of $110.19 million, a P/E ratio of -5.44 and a beta of 1.03. The firm’s fifty day moving average price is $14.41 and its two-hundred day moving average price is $14.07.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Silicom stock. Acadian Asset Management LLC lifted its position in Silicom Ltd. (NASDAQ:SILC) by 59.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,370 shares of the technology company’s stock after purchasing an additional 5,749 shares during the quarter. Acadian Asset Management LLC owned about 0.23% of Silicom worth $228,000 at the end of the most recent quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.