Silicom Ltd (NASDAQ:SILC) experienced a significant decline in short interest as of December 15, 2023. The company reported that short interest totaled just 3,459 shares, marking a substantial drop of 48.3% from the November 30 total of 6,692 shares. This reduction reflects that approximately 0.1% of the company’s stock is currently short sold. Given an average daily trading volume of 9,027 shares, the short-interest ratio stands at a modest 0.4 days.
Analyst Ratings and Market Performance
Recent research reports have provided mixed ratings for Silicom. On October 3, Wall Street Zen upgraded the stock to a “hold” rating. Conversely, Weiss Ratings maintained a “sell (d-)” rating, indicating a cautious outlook on the stock. Currently, one analyst has rated Silicom as a Hold, while another has issued a Sell rating. According to data from MarketBeat.com, the stock holds an average rating of “Reduce.”
In terms of market activity, Silicom shares opened at $14.09, representing an increase of 0.8%. The company boasts a market capitalization of approximately $79.89 million, with a price-to-earnings ratio of -6.05 and a beta of 1.05. The stock has a 50-day moving average price of $15.19 and a 200-day moving average price of $15.95. Over the past twelve months, the stock has fluctuated between a low of $12.44 and a high of $19.36.
Quarterly Earnings Results
Silicom recently announced its quarterly earnings on October 30, revealing an earnings per share (EPS) of ($0.49), which fell short of analysts’ consensus estimate of ($0.36) by $0.13. The company recorded a negative return on equity of 10.83% and a negative net margin of 22.47%. Revenue for the quarter totaled $15.61 million, slightly below the forecasted $15.64 million.
Founded in 1987 and headquartered in Lod, Israel, Silicom Ltd. specializes in providing advanced networking infrastructure products. The company is dedicated to enhancing data throughput, security, and functionality across enterprise, cloud, telecommunications, and edge-computing environments. Its offerings include a range of network interface cards (NICs), specialized adapters, and turnkey network appliances designed for high-performance packet processing, encryption, compression, and traffic optimization.
Silicom continues to evolve from its origins as a niche hardware developer into a global supplier of connectivity and networking solutions, meeting the demands of an increasingly data-driven world.
