Silicom (NASDAQ:SILC) Shares Break Above 200-Day Moving Average – Time to Sell?

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 $38.96 and traded as high as $54.25. Silicom shares last traded at $52.30, with a volume of 120,625 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SILC shares. Needham & Company LLC upgraded shares of 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicom in a report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $60.00.

Silicom Stock Performance

The business has a 50-day simple moving average of $44.17 and a 200 day simple moving average of $39.20. The firm has a market cap of $346.35 million, a P/E ratio of -35.25 and a beta of 1.56.

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

Insider Activity at Silicom

In other Silicom news, CEO Liron Eizenman sold 18,072 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $48.53, for a total transaction of $877,034.16. Following the transaction, the chief executive officer directly owned 9,928 shares of the company’s stock, valued at approximately $481,805.84. The trade was a 64.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yeshayhu Orbach sold 2,969 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $45.00, for a total transaction of $133,605.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 48,041 shares of company stock worth $2,331,789. 25.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Silicom

Institutional investors have recently bought and sold shares of the stock. First Wilshire Securities Management Inc. boosted its position in Silicom by 3.6% during the 1st quarter. First Wilshire Securities Management Inc. now owns 315,642 shares of the technology company’s stock valued at $6,660,000 after acquiring an additional 10,834 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Silicom in the 1st quarter valued at approximately $537,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Silicom during the second quarter valued at approximately $34,000. 52.85% of the stock is owned by institutional investors.

Silicom Company Profile

Silicom Ltd. is an Israeli technology company that designs, develops, manufactures and markets high-performance networking and data infrastructure solutions. Its products are used to improve network visibility, security, performance and reliability in data centers, telecommunications networks, cloud environments and enterprise systems.

The company’s product portfolio includes network interface cards, intelligent and programmable adapters, server connectivity solutions, network bypass products, packet-processing and traffic-management platforms, and specialized hardware for network security and performance acceleration.