Silicom (NASDAQ:SILC) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Silicom Ltd (NASDAQ:SILC)’s share price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $40.64 and traded as high as $59.25. Silicom shares last traded at $56.84, with a volume of 160,502 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Needham & Company LLC upgraded Silicom from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Thursday, July 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Silicom in a research note on Thursday, July 30th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.00.

Silicom Stock Up 3.7%

The firm’s fifty day moving average price is $46.73 and its 200-day moving average price is $40.77. The stock has a market cap of $338.67 million, a P/E ratio of -34.46 and a beta of 1.56.

Silicom (NASDAQ:SILC) last posted 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. The company 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 8.37% and a negative net margin of 12.98%.

Insider Activity at Silicom

In related news, CFO Eran Gilad sold 7,000 shares of Silicom stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $44.45, for a total transaction of $311,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Liron Eizenman sold 18,072 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $48.53, for a total value of $877,034.16. Following the completion of the sale, the chief executive officer directly owned 9,928 shares in the company, valued at $481,805.84. This trade represents a 64.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,041 shares of company stock valued at $2,331,789. 25.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Silicom

A number of hedge funds have recently bought and sold shares of the business. First Wilshire Securities Management Inc. raised its stake 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 buying an additional 10,834 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Silicom during the 1st quarter valued at $537,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Silicom in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Silicom Company Profile

Silicom Ltd. (NASDAQ: SILC) develops and supplies high-performance networking and data infrastructure solutions. Its products are designed for use in servers, network appliances and communications systems, helping customers manage, secure, accelerate and monitor data traffic across enterprise and service-provider environments.

The company’s product portfolio includes network interface cards and adapters, intelligent and programmable networking solutions, bypass switches, packet-capture and traffic-processing products, network packet brokers, and specialized acceleration and synchronization technologies.