Silicom (NASDAQ:SILC) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Silicom (NASDAQ:SILC) issued its earnings results on Monday. The technology company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.10, Zacks reports. Silicom had a negative net margin of 19.62% and a negative return on equity of 9.60%. The business had revenue of $14.50 million for the quarter. Silicom updated its Q3 2024 guidance to EPS.

Silicom Price Performance

SILC stock remained flat at $13.00 during trading on Wednesday. 8,084 shares of the company’s stock were exchanged, compared to its average volume of 31,529. The company has a fifty day moving average of $15.61 and a two-hundred day moving average of $15.81. The firm has a market capitalization of $87.88 million, a P/E ratio of -8.28 and a beta of 1.04. Silicom has a 52-week low of $12.79 and a 52-week high of $31.49.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com upgraded Silicom from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th. Needham & Company LLC lowered Silicom from a “buy” rating to a “hold” rating in a research report on Tuesday.

Silicom Company Profile

Silicom Ltd., together with its subsidiaries, designs, manufactures, markets, and supports networking and data infrastructure solutions for servers, server-based systems, and communications devices. It offers server network interface cards; and smart cards, such as smart server adapters, which include redirector and switching cards, encryption and data compression hardware acceleration cards, forward error correction acceleration and offloading cards, time synchronization cards, and field programmable gate array-based cards.