Silicom (NASDAQ:SILC) Director Sells 20,000 Shares of Stock

Silicom Ltd (NASDAQ:SILC) Director Avinoam Eizenman sold 20,000 shares of Silicom stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $50.50, for a total transaction of $1,010,000.00. Following the completion of the sale, the director owned 168,736 shares of the company’s stock, valued at $8,521,168. This represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Silicom Stock Performance

Shares of SILC traded down $3.29 during mid-day trading on Tuesday, hitting $45.36. 53,498 shares of the company traded hands, compared to its average volume of 120,454. The stock has a market cap of $260.83 million, a price-to-earnings ratio of -26.45 and a beta of 1.56. The stock has a 50-day moving average price of $43.30 and a two-hundred day moving average price of $33.29. Silicom Ltd has a 1 year low of $13.34 and a 1 year high of $52.95.

Silicom (NASDAQ:SILC) last issued its earnings results on Wednesday, July 29th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.08. Silicom had a negative net margin of 12.98% and a negative return on equity of 8.37%. The company had revenue of $23.81 million for the quarter, compared to analysts’ expectations of $20.58 million.

Analyst Ratings Changes

A number of research firms have recently issued reports on SILC. Weiss Ratings restated a “sell (d-)” rating on shares of Silicom in a research note on Thursday, July 30th. Needham & Company LLC raised Silicom from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SILC. Strategic Investment Solutions Inc. IL purchased a new stake in Silicom in the 2nd quarter worth approximately $34,000. Bank of America Corp DE purchased a new position in Silicom during the fourth quarter valued at approximately $29,000. Barclays PLC lifted its holdings in Silicom by 33.8% during the fourth quarter. Barclays PLC now owns 3,670 shares of the technology company’s stock valued at $54,000 after purchasing an additional 927 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Silicom in the first quarter worth approximately $151,000. Finally, Susquehanna International Group LLP bought a new position in shares of Silicom in the third quarter worth approximately $277,000. 52.85% of the stock is currently 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.