Needham analyst Alex Henderson assigned a Buy rating to Silicom (SILC) today and set a price target of $53.00. The company’s shares closed last Thursday at $44.00, close to its 52-week high of $48.01.
According to TipRanks.com, Henderson is a top 100 analyst with an average return of 30.2% and a 68.3% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and Acacia Communications.
Currently, the analyst consensus on Silicom is a Moderate Buy with an average price target of $53.00.
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Based on Silicom’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $28.39 million and net profit of $2.09 million. In comparison, last year the company earned revenue of $24.1 million and had a net profit of $1.9 million.
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Silicom Ltd. engages in the provision of networking and data infrastructure solutions. The firm operates through the following geographical segments: North America, Europe, and Asia Pacific. Its products include server adapters, smart cards, bypass switches and intelligent bypass switches. The company was founded by Avi Eizenman, Yehuda Zisapel, and Zohar Zisapel in 1987 and is headquartered in Kfar Saba, Israel.
