Needham & Company Upgrades Silicom Ltd. (SILC) to Buy

Needham & Company upgraded Silicom Ltd. (NASDAQ: SILC) from Hold to Buy with a price target of $60.00.

Analyst Alex Henderson commented, "Silicom stumbled last year and has been rebuilding momentum. With the strong CY4Q results, we think Silicom is now positioned into easier comps and should get back on a solid growth curve. While the CY4Q results were strong, we note they have a history of 4Q spikes making predicting CY4Q difficult. It is also worth noting these spikes usually mean steeper declines into CY1Q. Regardless, the higher base is helping us increase estimates. Additionally, there have been several important design wins announced in the quarter which should help out period results. We are upgrading SILC to a Buy and setting a $60 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 $36.94 yesterday.

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