Silicom (NASDAQ:SILC) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Silicom Ltd. (NASDAQ:SILC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.12 and traded as high as $17.61. Silicom shares last traded at $17.26, with a volume of 41,644 shares changing hands.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC assumed coverage on Silicom in a research report on Monday, November 4th. They set a “hold” rating for the company.

Silicom Price Performance

The stock has a market cap of $116.61 million, a price-to-earnings ratio of -5.75 and a beta of 0.96. The stock’s 50-day moving average is $14.78 and its 200-day moving average is $14.12.

Hedge Funds Weigh In On Silicom

A hedge fund recently raised its stake in Silicom stock. Acadian Asset Management LLC grew its stake in shares of Silicom Ltd. (NASDAQ:SILC) by 59.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,370 shares of the technology company’s stock after acquiring an additional 5,749 shares during the quarter. Acadian Asset Management LLC owned about 0.23% of Silicom worth $228,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.