Silicom (NASDAQ:SILC) Now Covered by Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Silicom (NASDAQ:SILC) in a research note released on Monday, StockNewsAPI reports. The brokerage issued 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 report on Saturday, August 31st.

Silicom Stock Down 1.4 %

Shares of Silicom stock opened at $13.46 on Monday. The stock’s fifty day moving average is $13.35 and its two-hundred day moving average is $14.52. Silicom has a 52 week low of $11.35 and a 52 week high of $19.04. The company has a market capitalization of $90.99 million, a PE ratio of -4.49 and a beta of 1.04.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew 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 worth $228,000 after buying an additional 5,749 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Silicom in the first quarter worth about $256,000. Finally, Kent Lake Capital LLC grew its holdings in Silicom by 5.0% during the 1st quarter. Kent Lake Capital LLC now owns 315,000 shares of the technology company’s stock worth $4,678,000 after acquiring an additional 15,000 shares in the last quarter. 52.85% of the stock is currently owned by hedge funds and other 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.