Silicom (NASDAQ:SILC) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Silicom Ltd. (NASDAQ:SILC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.07 and traded as high as $16.34. Silicom shares last traded at $16.31, with a volume of 24,130 shares traded.

Analysts Set New Price Targets

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

Silicom Stock Performance

The firm has a market capitalization of $109.58 million, a P/E ratio of -5.41 and a beta of 1.03. The business has a fifty day moving average of $14.45 and a 200-day moving average of $14.08.

Institutional Investors Weigh In On Silicom

A hedge fund recently raised its stake in Silicom stock. Acadian Asset Management LLC grew its holdings in shares of Silicom Ltd. (NASDAQ:SILC) by 59.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 about 0.23% of Silicom worth $228,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other 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.