Needham & Company Downgrades Silicom Ltd. (SILC) to Hold

Needham & Company downgraded Silicom Ltd. (NASDAQ: SILC) from Buy to Hold.

Analyst Alex Henderson said, "It will likely take 3-4 Quarters to churn through these issues—Still Good Value But Likely to Tread Water. The weak results, the lowered guidance, the loss of a major contract with their largest customer, and the long time line to offsetting these pressures suggests the shares of Silicom are likely to tread water for the remainder of CY14."

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 $39.02 yesterday.

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