Silicom (NASDAQ:SILC) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Silicom Ltd. (NASDAQ:SILC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.07 and traded as high as $15.23. Silicom shares last traded at $15.23, with a volume of 17,611 shares.

Analyst Upgrades and Downgrades

SILC has been the subject of a number of recent analyst reports. StockNews.com upgraded Silicom from a “sell” rating to a “hold” rating in a research report on Saturday, August 31st. Needham & Company LLC began coverage on Silicom in a research note on Monday, November 4th. They issued a “hold” rating on the stock.

Silicom Stock Performance

The firm has a fifty day moving average price of $13.91 and a 200 day moving average price of $14.07. The firm has a market capitalization of $102.89 million, a price-to-earnings ratio of -5.08 and a beta of 1.03.

Institutional Inflows and Outflows

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 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,370 shares of the technology company’s stock after purchasing an additional 5,749 shares during the quarter. Acadian Asset Management LLC owned approximately 0.23% of Silicom worth $228,000 as of its most recent SEC filing. Institutional investors own 52.85% of the company’s stock.

About Silicom

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.