Zacks: Analysts Set $60.00 Target Price for Silicom Ltd (SILC)

Silicom Ltd (NASDAQ:SILC) has earned an average broker rating score of 2.00 (Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating.

Analysts have set a 12 month consensus price objective of $60.00 for the company, according to Zacks. Zacks has also given Silicom an industry rank of 238 out of 265 based on the ratings given to its competitors.

Separately, Needham & Company LLC raised their target price on Silicom from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, March 23rd.

Silicom (NASDAQ SILC) traded down 0.54% during trading on Thursday, reaching $46.44. 16,076 shares of the company’s stock were exchanged. Silicom has a 12 month low of $26.75 and a 12 month high of $55.66. The firm’s 50-day moving average price is $50.93 and its 200-day moving average price is $43.54. The firm has a market cap of $342.77 million, a price-to-earnings ratio of 25.04 and a beta of 1.12.

Silicom (NASDAQ:SILC) last issued its earnings results on Thursday, April 27th. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.48 by $0.13. Silicom had a return on equity of 12.29% and a net margin of 13.25%. The company had revenue of $25.34 million during the quarter, compared to the consensus estimate of $23.92 million. During the same quarter in the prior year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, equities research analysts anticipate that Silicom will post $2.54 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Silicom during the fourth quarter valued at approximately $462,000. State Street Corp increased its position in shares of Silicom by 2.1% in the fourth quarter. State Street Corp now owns 73,088 shares of the technology company’s stock valued at $3,001,000 after buying an additional 1,510 shares in the last quarter. Ativo Capital Management LLC bought a new position in shares of Silicom during the fourth quarter valued at approximately $608,000. Menta Capital LLC increased its position in shares of Silicom by 8.7% in the fourth quarter. Menta Capital LLC now owns 50,958 shares of the technology company’s stock valued at $2,094,000 after buying an additional 4,100 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new position in shares of Silicom during the fourth quarter valued at approximately $254,000. Institutional investors and hedge funds own 25.42% of the company’s stock.

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About Silicom

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SILC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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