Short Interest in Silicom Ltd. (NASDAQ:SILC) Declines By 18.1%

Silicom Ltd. (NASDAQ:SILC) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 17,600 shares, a decline of 18.1% from the December 15th total of 21,500 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 32,100 shares, the days-to-cover ratio is currently 0.5 days.

Silicom Trading Down 1.7 %

Shares of Silicom stock traded down $0.29 during trading hours on Friday, hitting $16.89. 9,432 shares of the company were exchanged, compared to its average volume of 41,438. The business has a 50-day moving average of $15.22 and a 200-day moving average of $14.23. Silicom has a 1 year low of $11.35 and a 1 year high of $18.24. The stock has a market capitalization of $114.18 million, a price-to-earnings ratio of -5.63 and a beta of 0.96.

Hedge Funds Weigh In On Silicom

An institutional investor recently raised its position in Silicom stock. Acadian Asset Management LLC increased its position in shares of Silicom Ltd. (NASDAQ:SILC) by 59.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,370 shares of the technology company’s stock after purchasing an additional 5,749 shares during the period. Acadian Asset Management LLC owned approximately 0.23% of Silicom worth $228,000 as of its most recent SEC filing. 52.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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