Silicom Ltd (NASDAQ:SILC) Sees Large Drop in Short Interest

Silicom Ltd (NASDAQ:SILC) saw a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 17,416 shares, a drop of 52.5% from the May 14th total of 36,630 shares. Based on an average daily volume of 184,703 shares, the short-interest ratio is presently 0.1 days. Currently, 0.4% of the company’s shares are short sold.

Silicom Stock Down 2.5%

Shares of NASDAQ:SILC traded down $1.21 on Friday, hitting $46.45. The company had a trading volume of 109,260 shares, compared to its average volume of 161,568. The firm’s 50-day simple moving average is $36.76 and its two-hundred day simple moving average is $24.09. Silicom has a 1 year low of $13.34 and a 1 year high of $52.58. The firm has a market capitalization of $265.23 million, a price-to-earnings ratio of -24.07 and a beta of 1.58.

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

Insider Activity at Silicom

In other Silicom news, VP David Castiel sold 2,000 shares of the firm’s stock in a transaction 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 document filed with the SEC, which is available at the SEC website. Also, CEO Liron Eizenman sold 8,900 shares of the firm’s 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 directly owned 15,500 shares in the company, valued at approximately $701,065. This trade represents a 36.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,438 shares of company stock worth $1,234,244 in the last 90 days. Corporate insiders own 25.38% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SILC. Hudson Bay Capital Management LP purchased a new position in Silicom during the 4th quarter valued at about $3,306,000. Nano Cap New Millennium Growth Fund L P purchased a new position in Silicom during the 4th quarter valued at about $2,639,000. Renaissance Technologies LLC purchased a new position in Silicom in the first quarter worth about $537,000. Susquehanna International Group LLP purchased a new position in Silicom in the third quarter worth about $277,000. Finally, First Wilshire Securities Management Inc. raised its holdings in Silicom by 3.6% in the first quarter. First Wilshire Securities Management Inc. now owns 315,642 shares of the technology company’s stock worth $6,660,000 after buying an additional 10,834 shares during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

About Silicom

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.