Silicom (NASDAQ:SILC) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Silicom Ltd. (NASDAQ:SILC) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.02 and traded as high as $15.31. Silicom shares last traded at $14.96, with a volume of 10,478 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “hold” rating on shares of Silicom in a report on Monday, February 3rd.

Silicom Trading Up 0.1 %

The company’s fifty day moving average is $16.27 and its 200-day moving average is $15.02. The firm has a market capitalization of $101.07 million, a P/E ratio of -7.48 and a beta of 0.98.

Silicom (NASDAQ:SILC) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.44). Silicom had a negative net margin of 20.66% and a negative return on equity of 8.83%.

Institutional Trading of Silicom

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in shares of Silicom during the fourth quarter worth approximately $29,000. Arrowstreet Capital Limited Partnership bought a new position in Silicom during the fourth quarter worth $266,000. Northern Trust Corp bought a new position in Silicom during the fourth quarter worth $1,050,000. Acuitas Investments LLC raised its stake in Silicom by 44.2% during the 4th quarter. Acuitas Investments LLC now owns 104,379 shares of the technology company’s stock valued at $1,702,000 after purchasing an additional 31,990 shares during the last quarter. Finally, Systematic Financial Management LP boosted its holdings in Silicom by 4.2% in the 4th 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 during the period. Institutional investors own 52.85% of the company’s stock.

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.