Silicom Ltd. (SILC) is Reiterated by Needham to Buy, Raises Price Target to $ 43

Silicom Ltd. (SILC) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 43 from a previous price target of $40 . Needham advised their investors in a research report released on Jul 27, 2016.

On the company’s financial health, Silicom Ltd. reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $0.42. The company had revenue of $26.00 million for the quarter, compared to analysts expectations of $22.00 million. The company’s revenue was up 51.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Silicom Ltd. closed down -0.87 points or -2.36% at $35.96 with 33,961 shares getting traded on Thursday. Post opening the session at $37.06, the shares hit an intraday low of $35.86 and an intraday high of $37.06 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Silicom Ltd. (Silicom) is engaged in the design manufacture marketing and support of networking and data infrastructure solutions for a range of servers server based systems and communications devices. The Company’s products include server network interface cards with and without bypass (Server Adapters); intelligent and programmable cards with features such as encryption acceleration data compression redirection time stamping network capture solutions field programmable gate array (FPGA) based ultra-low latency solutions and/or other offload features (Smart Adapters); stand-alone bypass switches (Mostly Intelligent Bypass Switches) and Server To Appliance Converter (SETAC) product family a solution that provides standard servers to be configured as network appliances with front networking ports including Switched SETAC. The Company’s products are sold to original equipment manufacturer (OEM) customers who offer networking appliances servers and storage devices.

Silicom Ltd.

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