Needham & Company LLC reaffirmed their buy rating on shares of Silicom Ltd. (NASDAQ:SILC) in a research report sent to investors on Friday. The brokerage currently has a $48.00 price objective on the stock, up from their previous price objective of $43.00.
Shares of Silicom (NASDAQ:SILC) opened at 41.61 on Friday. The company has a market cap of $305.67 million, a price-to-earnings ratio of 18.16 and a beta of 1.50. Silicom has a 12-month low of $25.00 and a 12-month high of $44.00. The stock has a 50 day moving average of $40.00 and a 200 day moving average of $32.85.
Silicom (NASDAQ:SILC) last released its earnings results on Monday, July 25th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.21. Silicom had a net margin of 17.96% and a return on equity of 15.83%. The business earned $26 million during the quarter, compared to analysts’ expectations of $17.10 million. During the same period last year, the business earned $0.40 earnings per share. The firm’s revenue was up 51.9% on a year-over-year basis. On average, equities analysts expect that Silicom will post $2.20 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in SILC. Nationwide Fund Advisors purchased a new position in Silicom during the second quarter valued at $106,000. Schwab Charles Investment Management Inc. purchased a new position in Silicom during the second quarter valued at $258,000. Teachers Advisors Inc. purchased a new position in Silicom during the second quarter valued at $263,000. Bank of New York Mellon Corp purchased a new position in Silicom during the second quarter valued at $316,000. Finally, California State Teachers Retirement System purchased a new position in Silicom during the second quarter valued at $352,000. 20.33% of the stock is owned by institutional investors and hedge funds.
Silicom Ltd. (Silicom) is engaged in the design, manufacture, marketing and support of networking and data infrastructure solutions for a range of servers, server-based systems and communications devices. The Company’s products include server network interface cards with and without bypass (Server Adapters); Intelligent and programmable cards, with features, such as encryption, acceleration, data compression, redirection, time stamping, network capture solutions, field programmable gate array (FPGA) based ultra-low latency solutions, and/or other offload features and/or compute blades (Smart Cards), and standalone Products.
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