Silicom (NASDAQ:SILC) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Silicom Ltd. (NASDAQ:SILC)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.07 and traded as high as $16.34. Silicom shares last traded at $16.31, with a volume of 24,130 shares.

Analyst Ratings Changes

Separately, Needham & Company LLC began coverage on Silicom in a research note on Monday, November 4th. They issued a “hold” rating on the stock.

Silicom Trading Up 5.5 %

The company has a market cap of $109.58 million, a price-to-earnings ratio of -5.41 and a beta of 1.03. The stock has a 50 day moving average price of $14.45 and a two-hundred day moving average price of $14.08.

Hedge Funds Weigh In On Silicom

A hedge fund recently raised its stake in Silicom stock. GSA Capital Partners LLP grew its holdings in Silicom Ltd. (NASDAQ:SILC) by 89.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,482 shares of the technology company’s stock after buying an additional 12,990 shares during the period. GSA Capital Partners LLP owned 0.41% of Silicom worth $377,000 at the end of the most recent quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

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.