Silicom Ltd. (SILC) PT Raised to $55 at Needham & Company

Needham & Company analyst Alex Henderson raised the price target on Silicom Ltd. (NASDAQ: SILC) to $55.00 (from $53.00) while maintaining a Buy rating.

The analyst commented, "We hosted Silicom on an NDR. We invited them based on the strong positive news flow from the company and a desire to get a better read on the outlook. Silicom described a lot of opportunities in the pipeline including large design wins with Tier 1 SPs, OpenRan and SD-WAN wins. While these wins offer longer term potential upside, the number of potential positive drivers of longer term growth should provide plenty of reason to own the stock, as we see it. Near-term, demand is strong but upside is capped by component availability. Tight components do not put the current or next couple of quarters at risk, but they limit the room for upside, in our view. We suspect the shortage will break over the next quarter or two and yield opportunity for supply to address some pent-up demand in the back half. Increasing PT to $55."

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