Why Silicom Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Silicom Ltd's shares have dropped by over 23% following lower-than-expected Q2 results. Despite a YoY revenue growth of 12% to $38.13 million, the company's non-GAAP EPS fell to $0.66 from $0.70 a year ago. Silicom plans to accelerate its $15 million Share Repurchase Plan and expects Q3 revenue to be between $30 million and $31 million, significantly lower than the analyst consensus of $44.06 million. The company cites macroeconomic headwinds and supply chain issues as reasons for the slowdown.
July 31, 2023 | 2:19 pm
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Silicom's shares have dropped significantly due to disappointing Q2 results and a lower-than-expected Q3 revenue forecast. The company's plan to accelerate its share repurchase plan may provide some support to the stock.
Silicom's lower-than-expected Q2 results and lower Q3 forecast have negatively impacted investor sentiment, leading to a drop in the company's share price. The company's plan to accelerate its share repurchase plan may provide some support to the stock by reducing the supply of shares in the market and potentially increasing the share price.
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IMPORTANCE 100
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