Needham & Company LLC Initiates Coverage on Silicom (NASDAQ:SILC)

Investment analysts at Needham & Company LLC initiated coverage on shares of Silicom (NASDAQ:SILC) in a report released on Monday, StockNewsAPI reports. The brokerage set a “hold” rating on the technology company’s stock.

Separately, StockNews.com upgraded shares of Silicom from a “sell” rating to a “hold” rating in a research report on Saturday, August 31st.

Silicom Stock Up 8.7 %

Shares of SILC stock opened at $14.63 on Monday. Silicom has a 12-month low of $11.35 and a 12-month high of $19.04. The company has a 50 day moving average of $13.38 and a 200-day moving average of $14.52. The firm has a market cap of $98.81 million, a P/E ratio of -4.88 and a beta of 1.04.

Hedge Funds Weigh In On Silicom

A number of large investors have recently made changes to their positions in SILC. Quadrature Capital Ltd bought a new stake in shares of Silicom during the first quarter valued at about $256,000. Kent Lake Capital LLC raised its holdings in shares of Silicom by 5.0% in the 1st quarter. Kent Lake Capital LLC now owns 315,000 shares of the technology company’s stock valued at $4,678,000 after acquiring an additional 15,000 shares in the last quarter. GSA Capital Partners LLP raised its stake in Silicom by 89.6% in the third quarter. GSA Capital Partners LLP now owns 27,482 shares of the technology company’s stock valued at $377,000 after purchasing an additional 12,990 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Silicom by 59.8% during the 2nd quarter. Acadian Asset Management LLC now owns 15,370 shares of the technology company’s stock valued at $228,000 after buying an additional 5,749 shares in the last quarter. 52.85% of the stock is 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.