Needham & Company Reiterates Buy on Silicom Ltd (SILC) as Security Drives Strength
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Needham & Company reiterated a Buy rating and $40.00 price target on Silicom Ltd. (NASDAQ: SILC) as security segment drives success. Security is now roughly 35% of Silicom's Revenues. Security demand is the fastest growth vertical and is likely to increase toward half of Revenues over the next several years shifting Silicom back to a higher growth trajectory.
Analyst Alex Henderson commented, "Silicom is not a Security company, but increasingly its customers are. Security has become a critical driver of Silicom's business and Silicom's largest end market vertical. It’s growing at a significantly higher rate than other verticals and is likely to accelerate Silicom's growth rate over time. Security and higher speed Data Center environments are driving acceleration in Silicom's business and improving both the growth prospects and the longer term visibility. We reiterate our Buy rating and $40 Target Price."
For an analyst ratings summary and ratings history on Silicom Ltd. click here. For more ratings news on Silicom Ltd. click here.
Shares of Silicom Ltd. closed at $31.96 yesterday.
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