Silicom (NASDAQ:SILC) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Silicom Ltd. (NASDAQ:SILC - Get Free Report) 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 trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on SILC. StockNews.com raised shares of Silicom from a "sell" rating to a "hold" rating in a report on Saturday, August 31st. Needham & Company LLC initiated coverage on Silicom in a research note on Monday, November 4th. They issued a "hold" rating on the stock.

Silicom Stock Down 0.7 %

The stock's fifty day simple moving average is $13.91 and its 200 day simple moving average is $14.07. The firm has a market capitalization of $102.15 million, a PE ratio of -5.04 and a beta of 1.03.

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 - Free Report) by 59.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,370 shares of the technology company's stock after buying an additional 5,749 shares during the quarter. Acadian Asset Management LLC owned 0.23% of Silicom worth $228,000 at the end of the most recent reporting period. 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.