Silicom (NASDAQ:SILC) Cut to “Hold” at Needham & Company LLC

Needham & Company LLC cut shares of Silicom (NASDAQ:SILC) from a buy rating to a hold rating in a report issued on Tuesday morning, MarketBeat.com reports.

Separately, StockNews.com raised shares of Silicom from a sell rating to a hold rating in a research note on Thursday, June 6th.

Silicom Price Performance

NASDAQ:SILC opened at $12.76 on Tuesday. Silicom has a 52-week low of $12.52 and a 52-week high of $28.59. The stock has a 50-day simple moving average of $15.53 and a two-hundred day simple moving average of $15.79.

Silicom (NASDAQ:SILC) last announced its quarterly earnings data on Monday, July 29th. The technology company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.10. The business had revenue of $14.50 million during the quarter. Silicom had a negative net margin of 19.62% and a negative return on equity of 9.92%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd bought a new stake in shares of Silicom in the 1st quarter valued at about $256,000. Isthmus Partners LLC increased its position in shares of Silicom by 16.9% in the 4th quarter. Isthmus Partners LLC now owns 61,052 shares of the technology company’s stock valued at $1,105,000 after acquiring an additional 8,806 shares during the period. Finally, Kent Lake Capital LLC raised its stake in shares of Silicom by 5.0% in the first quarter. Kent Lake Capital LLC now owns 315,000 shares of the technology company’s stock worth $4,678,000 after purchasing an additional 15,000 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors.

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.