Short Interest in Silicom Ltd (NASDAQ:SILC) Expands By 103.5%

Silicom Ltd (NASDAQ:SILC) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 117,033 shares, an increase of 103.5% from the June 30th total of 57,507 shares. Based on an average trading volume of 175,817 shares, the days-to-cover ratio is presently 0.7 days. Currently, 2.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC upgraded Silicom from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.00.

Silicom Trading Up 8.8%

Silicom stock traded up $3.06 during midday trading on Thursday, hitting $37.98. The stock had a trading volume of 24,762 shares, compared to its average volume of 112,289. The business has a fifty day moving average price of $43.15 and a 200 day moving average price of $30.71. Silicom has a 12 month low of $13.34 and a 12 month high of $52.95. The stock has a market cap of $218.36 million, a P/E ratio of -19.66 and a beta of 1.54.

Silicom (NASDAQ:SILC) last announced its quarterly earnings data 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. The firm had revenue of $23.81 million for the quarter, compared to analysts’ expectations of $20.58 million. Silicom had a negative return on equity of 9.30% and a negative net margin of 16.57%.

Insiders Place Their Bets

In related news, VP David Castiel sold 2,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $48.00, for a total transaction of $96,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Liron Eizenman sold 8,900 shares of the firm’s stock in a transaction that occurred 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 directly owned 15,500 shares in the company, valued at $701,065. This represents a 36.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,438 shares of company stock valued at $1,334,244. Insiders own 25.38% of the company’s stock.

Hedge Funds Weigh In On Silicom

Several institutional investors have recently made changes to their positions in SILC. Hudson Bay Capital Management LP bought a new position in Silicom in the 4th quarter worth about $3,306,000. Nano Cap New Millennium Growth Fund L P bought a new position in Silicom in the 4th quarter worth approximately $2,639,000. Renaissance Technologies LLC bought a new position in shares of Silicom in the first quarter worth $537,000. Susquehanna International Group LLP acquired a new position in Silicom during the 3rd quarter valued at about $277,000. Finally, First Wilshire Securities Management Inc. increased its stake in shares of Silicom by 3.6% during the first 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 during the period. 52.85% of the stock is owned by institutional investors.

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.