BidaskClub Lowers Silicom (NASDAQ:SILC) to Hold

BidaskClub cut shares of Silicom (NASDAQ:SILC) from a buy rating to a hold rating in a research note issued to investors on Thursday, BidAskClub reports.

A number of other analysts have also weighed in on SILC. ValuEngine lowered shares of Silicom from a hold rating to a sell rating in a research note on Thursday, July 2nd. Needham & Company LLC assumed coverage on shares of Silicom in a research note on Wednesday. They set a buy rating and a $42.00 target price for the company.

Shares of NASDAQ:SILC traded up $0.11 during trading on Thursday, reaching $37.67. The company had a trading volume of 8,285 shares, compared to its average volume of 14,920. The firm’s fifty day moving average is $36.42 and its 200 day moving average is $32.77. The firm has a market capitalization of $270.31 million, a PE ratio of 39.24 and a beta of 1.03. Silicom has a twelve month low of $20.93 and a twelve month high of $39.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.07 and a current ratio of 3.49.

Silicom (NASDAQ:SILC) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $23.05 million during the quarter. Silicom had a net margin of 7.51% and a return on equity of 4.41%.

Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG acquired a new stake in Silicom during the first quarter valued at approximately $37,000. Fifth Third Bancorp purchased a new stake in shares of Silicom in the 1st quarter valued at approximately $54,000. Advisor Group Holdings Inc. purchased a new stake in shares of Silicom in the 1st quarter valued at approximately $103,000. New York State Common Retirement Fund lifted its position in shares of Silicom by 22.3% in the 1st quarter. New York State Common Retirement Fund now owns 4,146 shares of the technology company’s stock valued at $112,000 after acquiring an additional 756 shares in the last quarter. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Silicom in the 1st quarter valued at approximately $116,000. 46.88% of the stock is owned by institutional investors and hedge funds.

About Silicom

Silicom Ltd., together with its subsidiaries, designs, manufactures, markets, and supports networking and data infrastructure solutions for a range of servers, server based systems, and communications devices in North America, Europe, and the Asia Pacific. It offers server network interface cards with and without bypass for the server networking industry.

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