Silicom Ltd (NASDAQ:SILC) Sees Significant Growth in Short Interest

Silicom Ltd (NASDAQ:SILC) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 33,393 shares, a growth of 91.7% from the May 31st total of 17,416 shares. Based on an average trading volume of 150,252 shares, the short-interest ratio is currently 0.2 days. Currently, 0.8% of the company’s stock are sold short.

Insider Buying and Selling at Silicom

In related news, VP David Castiel sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $48.00, for a total value of $96,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Liron Eizenman sold 8,900 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $45.23, for a total transaction of $402,547.00. Following the completion of the sale, the chief executive officer owned 15,500 shares in the company, valued at $701,065. The trade was a 36.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,438 shares of company stock worth $1,334,244 in the last three months. 25.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Silicom

A number of institutional investors have recently added to or reduced their stakes in SILC. Bank of America Corp DE acquired a new position in Silicom during the fourth quarter worth $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. acquired a new stake in shares of Silicom in the first quarter valued at about $151,000. Susquehanna International Group LLP acquired a new stake in shares of Silicom in the third quarter valued at about $277,000. Finally, Citadel Advisors LLC increased its stake in shares of Silicom by 7.3% during the third quarter. Citadel Advisors LLC now owns 16,492 shares of the technology company’s stock worth $292,000 after purchasing an additional 1,117 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Silicom Stock Performance

Shares of Silicom stock traded down $1.59 on Thursday, hitting $42.59. The company’s stock had a trading volume of 386,778 shares, compared to its average volume of 105,016. The company has a market capitalization of $244.89 million, a price-to-earnings ratio of -22.07 and a beta of 1.54. Silicom has a 1 year low of $13.34 and a 1 year high of $52.95. The firm has a fifty day moving average price of $42.05 and a 200-day moving average price of $26.82.

Silicom (NASDAQ:SILC) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.11. The company had revenue of $19.10 million for the quarter, compared to the consensus estimate of $16.97 million. Silicom had a negative return on equity of 9.30% and a negative net margin of 16.57%.

Analyst Ratings Changes

Separately, Needham & Company LLC raised shares of Silicom from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $60.00.

Silicom Company Profile

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.