Silicom Ltd. (SILC) PT Raised to $65 at Needham & Company

Needham & Company analyst Alex Henderson raised the price target on Silicom Ltd. (NASDAQ: SILC) to $65.00 (from $57.00) while maintaining a Buy rating following a call with management.

The analyst commented, "We caught up with Silicom management and went over the current conditions, demand, supply and costs. The news is broadly good. Demand looks strong and the expectations for CY22 are improving. The Supply chain issues persist, but seem to be flattening out. Silicom has a lot of robust projects in its pipeline which could materially increase the Revenue scale and growth rate sustainably over 20%. On the cost side, Silicom is able to manage cost pressures and sustain margins. SILC is the least expensive name in our coverage at just 10.6x EV/E with 24% of the Market Cap in cash and a buyback in place poised to deliver 23%-30% growth. We are raising our Target to $65 from $57 and Reiterating Buy rating."

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