Silicom Ltd. (NASDAQ:SILC) Short Interest Down 24.6% in September

Silicom Ltd. (NASDAQ:SILC) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 26,400 shares, a drop of 24.6% from the September 15th total of 35,000 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 23,400 shares, the short-interest ratio is currently 1.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in shares of Silicom during the 1st quarter valued at about $256,000. Kent Lake Capital LLC increased its holdings in Silicom by 5.0% during the 1st 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 last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Silicom by 59.8% in the second quarter. Acadian Asset Management LLC now owns 15,370 shares of the technology company’s stock worth $228,000 after buying an additional 5,749 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Silicom Price Performance

NASDAQ:SILC traded up $0.02 during mid-day trading on Tuesday, reaching $13.77. The company’s stock had a trading volume of 4,720 shares, compared to its average volume of 28,598. Silicom has a twelve month low of $11.35 and a twelve month high of $24.04. The company’s fifty day simple moving average is $13.10 and its two-hundred day simple moving average is $14.70. The stock has a market cap of $93.09 million, a P/E ratio of -5.78 and a beta of 1.05.

Silicom (NASDAQ:SILC) last posted its quarterly earnings results on Monday, July 29th. The technology company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.10. Silicom had a negative net margin of 19.62% and a negative return on equity of 9.92%. The firm had revenue of $14.50 million for the quarter.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SILC. StockNews.com raised Silicom from a “sell” rating to a “hold” rating in a report on Saturday, August 31st. Needham & Company LLC downgraded Silicom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th.

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.