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

Silicom Ltd (NASDAQ:SILC)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $35.64 and traded as low as $35.00. Silicom shares last traded at $35.31, with a volume of 409,407 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicom in a research report on Wednesday. One 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.com, the company presently has a consensus rating of “Hold” and an average price target of $60.00.

Silicom Stock Performance

The stock has a market capitalization of $192.85 million, a price-to-earnings ratio of -26.20 and a beta of 1.56. The business’s 50 day simple moving average is $46.15 and its 200-day simple moving average is $35.74.

Silicom (NASDAQ:SILC) last announced its quarterly earnings results on Thursday, October 29th. The technology company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. Silicom had a negative net margin of 8.47% and a negative return on equity of 6.31%. The company had revenue of $26.72 million for the quarter, compared to analyst estimates of $25.45 million.

Insiders Place Their Bets

In other news, Director Avinoam Eizenman sold 20,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $50.50, for a total transaction of $1,010,000.00. Following the transaction, the director directly owned 168,736 shares of the company’s stock, valued at approximately $8,521,168. This trade represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Liron Eizenman sold 18,072 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $48.53, for a total value of $877,034.16. Following the transaction, 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. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 48,041 shares of company stock worth $2,331,789. Insiders own 25.38% of the company’s stock.

Hedge Funds Weigh In On Silicom

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in Silicom in the 2nd quarter valued at about $34,000. Hidden Cove Wealth Management LLC boosted its position in shares of Silicom by 22.4% during the 3rd quarter. Hidden Cove Wealth Management LLC now owns 11,033 shares of the technology company’s stock valued at $577,000 after purchasing an additional 2,017 shares in the last quarter. First Wilshire Securities Management Inc. grew its stake in shares of Silicom by 3.6% in the 1st quarter. First Wilshire Securities Management Inc. now owns 315,642 shares of the technology company’s stock worth $6,660,000 after purchasing an additional 10,834 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Silicom in the 1st quarter worth approximately $537,000. Institutional investors own 52.85% of the company’s stock.

Silicom Company Profile

Silicom Ltd. is an Israel-based technology company that designs and manufactures high-performance networking and data infrastructure solutions. Its products are used to improve network connectivity, traffic management, security, and processing in servers, appliances, and communications systems.

The company’s product portfolio includes server and network interface adapters, bypass solutions, network appliances, packet-processing platforms, and other specialized connectivity products. Silicom also develops solutions for cloud computing, edge computing, cybersecurity, telecommunications, and service-provider applications, often working with original equipment manufacturers and system integrators.

Founded in 1987 and headquartered in Kfar Sava, Israel, Silicom serves customers in international markets through relationships with technology vendors, communications companies, and enterprise infrastructure providers.