Silicom (NASDAQ:SILC) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Silicom (NASDAQ:SILC - Free Report) in a report issued on Monday morning, StockNewsAPI reports. The firm issued a hold rating on the technology company's stock.

Separately, StockNews.com raised Silicom from a "sell" rating to a "hold" rating in a report on Saturday, August 31st.

Silicom Trading Down 1.4 %

SILC stock traded down $0.19 during trading on Monday, hitting $13.46. The company had a trading volume of 7,675 shares, compared to its average volume of 27,282. The company has a fifty day moving average price of $13.34 and a two-hundred day moving average price of $14.54. Silicom has a fifty-two week low of $11.35 and a fifty-two week high of $19.04. The company has a market cap of $90.99 million, a P/E ratio of -4.55 and a beta of 1.04.

Institutional Investors Weigh In On Silicom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its stake in shares of Silicom by 59.8% in 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 during the period. Quadrature Capital Ltd bought a new position in Silicom in the first quarter valued at about $256,000. Finally, Kent Lake Capital LLC increased its position in Silicom by 5.0% in the first quarter. Kent Lake Capital LLC now owns 315,000 shares of the technology company's stock worth $4,678,000 after purchasing an additional 15,000 shares during the period. Institutional investors and hedge funds 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.