New Risk • Jun 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 46% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (US$1.3m sold). Recent Insider Transactions Derivative • May 20
EVP of Project Management notifies of intention to sell stock Yuval Karp intends to sell 2k shares in the next 90 days after lodging an Intent To Sell Form on the 18th of May. If the sale is conducted around the recent share price of US$48.08, it would amount to US$96k. Since March 2026, Yuval has owned 2.00k shares directly. Company insiders have collectively sold US$880k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • May 19
Vice President of Engineering recently sold US$96k worth of stock On the 14th of May, David Castiel sold around 2k shares on-market at roughly US$48.00 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$403k. Insiders have been net sellers, collectively disposing of US$880k more than they bought in the last 12 months. Recent Insider Transactions • May 12
President & CEO recently sold US$403k worth of stock On the 7th of May, Liron Eizenman sold around 9k shares on-market at roughly US$45.23 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Liron's only on-market trade for the last 12 months. Duyuru • May 02
Silicom Ltd. Provides Revenue Guidance for the Second Quarter of 2026 Silicom Ltd. provided revenue guidance for the second quarter of 2026. For the second quarter, company expected second quarter revenues to range from $20 to $21 million, representing accelerated 40% growth on a year-over-year basis at the upper end of the guidance. Duyuru • Apr 30
Silicom Ltd., Annual General Meeting, Jun 03, 2026 Silicom Ltd., Annual General Meeting, Jun 03, 2026. Location: 4 atir yeda street, 4464323., kfar sava Israel Duyuru • Mar 31
Silicom Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Silicom Ltd. announced that they will report Q1, 2026 results Pre-Market on Apr 30, 2026 Reported Earnings • Jan 29
Full year 2025 earnings released: US$2.01 loss per share (vs US$2.28 loss in FY 2024) Full year 2025 results: US$2.01 loss per share (improved from US$2.28 loss in FY 2024). Revenue: US$61.9m (up 6.6% from FY 2024). Net loss: US$11.5m (loss narrowed 16% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Duyuru • Jan 29
Silicom Ltd. Provides Revenue Guidance for the First Quarter of 2026 Silicom Ltd. provided revenue guidance for the first quarter of 2026. For the quarter, the management projects that revenues for the first quarter of 2026 will range from $16.5 million to $17.5 million, representing 18% growth year-over-year in the mid-range of the guidance. This affirms the Company’s expectation of generating double digit annual growth in 2026. Duyuru • Jan 05
Silicom Ltd. to Report Q4, 2025 Results on Jan 29, 2026 Silicom Ltd. announced that they will report Q4, 2025 results Pre-Market on Jan 29, 2026 Reported Earnings • Nov 02
Third quarter 2025 earnings released: US$0.49 loss per share (vs US$0.44 loss in 3Q 2024) Third quarter 2025 results: US$0.49 loss per share (further deteriorated from US$0.44 loss in 3Q 2024). Revenue: US$15.6m (up 5.8% from 3Q 2024). Net loss: US$2.80m (loss widened 6.5% from 3Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Communications industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Duyuru • Oct 31
Silicom Ltd. Provides Revenue Guidance for the Fourth Quarter of 2025 Silicom Ltd. provided revenue guidance for the fourth quarter of 2025. For the quarter, management projects that revenues will range from $15 million to $16 million. Duyuru • Sep 30
Silicom Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Silicom Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 01
Second quarter 2025 earnings released: US$0.59 loss per share (vs US$0.25 loss in 2Q 2024) Second quarter 2025 results: US$0.59 loss per share (further deteriorated from US$0.25 loss in 2Q 2024). Revenue: US$15.0m (up 3.6% from 2Q 2024). Net loss: US$3.34m (loss widened 120% from 2Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Communications industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Duyuru • Aug 01
Silicom Ltd. Provides Financial Guidance for the Third Quarter and Full Year 2025 Silicom Ltd. provided financial guidance for the third quarter and full year 2025. The company announced that the Management projects that revenues for the third quarter of 2025 will range from $15 million to $16 million.
Growth for 2025 as a whole is expected to be in the low single digits, with a double digit annual growth rate materializing gradually from 2026. Duyuru • Jul 02
Silicom Ltd. to Report Q2, 2025 Results on Jul 31, 2025 Silicom Ltd. announced that they will report Q2, 2025 results on Jul 31, 2025 Duyuru • May 07
Silicom Ltd., Annual General Meeting, Jun 18, 2025 Silicom Ltd., Annual General Meeting, Jun 18, 2025. Location: 14 atir yeda street, 4464323, kfar sava Israel Reported Earnings • Apr 29
First quarter 2025 earnings released: US$0.49 loss per share (vs US$0.55 loss in 1Q 2024) First quarter 2025 results: US$0.49 loss per share (improved from US$0.55 loss in 1Q 2024). Revenue: US$14.4m (flat on 1Q 2024). Net loss: US$2.81m (loss narrowed 18% from 1Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Communications industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Duyuru • Apr 28
Silicom Ltd. Provides Earnings Guidance for the Second Quarter of 2026 Silicom Ltd. provided earnings guidance for the second quarter of 2026 . For the year, company expected revenues will range from $14.5 million to $15.5 million. Growth for 2025 as a whole is expected to be in the low single digits, with a double digit annual growth rate materializing gradually from 2026. Duyuru • Apr 01
Silicom Ltd. to Report Q1, 2025 Results on Apr 28, 2025 Silicom Ltd. announced that they will report Q1, 2025 results on Apr 28, 2025 Reported Earnings • Mar 19
Full year 2024 earnings released: US$2.28 loss per share (vs US$3.94 loss in FY 2023) Full year 2024 results: US$2.28 loss per share (improved from US$3.94 loss in FY 2023). Revenue: US$58.1m (down 53% from FY 2023). Net loss: US$13.7m (loss narrowed 48% from FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Communications industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. New Risk • Feb 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.4m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 45% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$99.4m market cap). Reported Earnings • Jan 30
Full year 2024 earnings released: US$1.99 loss per share (vs US$3.94 loss in FY 2023) Full year 2024 results: US$1.99 loss per share (improved from US$3.94 loss in FY 2023). Revenue: US$58.1m (down 53% from FY 2023). Net loss: US$12.0m (loss narrowed 55% from FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Communications industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Duyuru • Jan 30
Silicom Ltd. Provides Revenues Guidance First Quarter of 2025 Silicom Ltd. provided revenues guidance first quarter of 2025. Management projects that revenues for the first quarter of 2025 will range from $14 million to $15 million. Duyuru • Jan 02
Silicom Ltd. to Report Q4, 2024 Results on Jan 30, 2025 Silicom Ltd. announced that they will report Q4, 2024 results on Jan 30, 2025 Duyuru • Nov 02
Silicom Ltd. Provides Financial Guidance for the Fourth Quarter of 2024 and Full Year of 2025 Silicom Ltd. projects that revenues for the fourth quarter of 2024 will range from $14 million to $15 million.
Growth in 2025 is expected to be in the low single digits, with strong 20%-30% compound annual growth rate materializing gradually from 2026. Reported Earnings • Nov 01
Third quarter 2024 earnings released: US$0.44 loss per share (vs US$0.18 profit in 3Q 2023) Third quarter 2024 results: US$0.44 loss per share (down from US$0.18 profit in 3Q 2023). Revenue: US$14.8m (down 51% from 3Q 2023). Net loss: US$2.63m (down 317% from profit in 3Q 2023). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Communications industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Duyuru • Oct 01
Silicom Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Silicom Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Jul 30
Second quarter 2024 earnings released: US$0.25 loss per share (vs US$0.56 profit in 2Q 2023) Second quarter 2024 results: US$0.25 loss per share (down from US$0.56 profit in 2Q 2023). Revenue: US$14.5m (down 62% from 2Q 2023). Net loss: US$1.52m (down 140% from profit in 2Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 6.6% growth forecast for the Communications industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Duyuru • Jul 30
Silicom Ltd. Provides Earnings Guidance for Third Quarter of 2024 Silicom Ltd. provided earnings guidance for third quarter of 2024. For the quarter, the company expects revenues will range from $14 million to $15 million, and expects that revenues for the second half of 2024 as a whole to be similar to those of the first half. Duyuru • Jul 02
Silicom Ltd. to Report Q2, 2024 Results on Jul 29, 2024 Silicom Ltd. announced that they will report Q2, 2024 results at 9:30 AM, US Eastern Standard Time on Jul 29, 2024 Duyuru • May 09
Silicom Ltd., Annual General Meeting, Jun 18, 2024 Silicom Ltd., Annual General Meeting, Jun 18, 2024, at 14:00 Israel Standard Time. Location: offices of the Company at 14 Atir Yeda Street Kfar Sava 4464323, Israel Kfar Sava Israel Agenda: To consider and act upon a proposal to re-elect Mr. Avi Eizenman, the Active Chairman of the Board of Directors, to the Company's Board of Directors, to hold office as director for a three-year term commencing on the date of the Meeting until the Annual General Meeting of Shareholders to be held in the year 2027, and until his successor has been duly elected; to consider and act upon a proposal to re-elect Mr. Eli Doron, to the Company's Board of Directors, to hold office as director for a three-year term commencing on the date of the Meeting until the Annual General Meeting of Shareholders to be held in the year 2027, and until his successor has been duly elected; to consider proposal to approve a framework for the grant of up to 10,000 Restricted Stock Units to Mr. Yeshayahu Orbach, the Company's Vice Chairman of the Board of Directors, to be granted from time to time in connection with certain services to be provided by him; and to consider other business matters. Reported Earnings • May 03
First quarter 2024 earnings released: US$0.55 loss per share (vs US$0.52 profit in 1Q 2023) First quarter 2024 results: US$0.55 loss per share (down from US$0.52 profit in 1Q 2023). Revenue: US$14.4m (down 61% from 1Q 2023). Net loss: US$3.43m (down 197% from profit in 1Q 2023). Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Communications industry in the US. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Duyuru • May 03
Silicom Ltd. Provides Revenue Guidance for the Second Quarter and Full Year 2024 Silicom Ltd. provided revenue guidance for the second quarter and full year 2024. For the quarter, the company expects revenues will range from $15 million to $17 million. The company believes that excess customer inventories and global economy headwinds will ease moving forward through 2024, resulting in second half revenues that are higher than those of the first half, and full-year revenues of approximately $70 million. Duyuru • Apr 02
Silicom Ltd. to Report Q1, 2024 Results on May 02, 2024 Silicom Ltd. announced that they will report Q1, 2024 results on May 02, 2024 Reported Earnings • Mar 21
Full year 2023 earnings released: US$3.94 loss per share (vs US$2.73 profit in FY 2022) Full year 2023 results: US$3.94 loss per share (down from US$2.73 profit in FY 2022). Revenue: US$124.1m (down 18% from FY 2022). Net loss: US$26.4m (down 244% from profit in FY 2022). Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Communications industry in the US are expected to grow by 4.4%. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 02
Full year 2023 earnings released: US$0.44 loss per share (vs US$2.73 profit in FY 2022) Full year 2023 results: US$0.44 loss per share (down from US$2.73 profit in FY 2022). Revenue: US$124.1m (down 18% from FY 2022). Net loss: US$2.96m (down 116% from profit in FY 2022). Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Communications industry in the US are expected to grow by 3.8%. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. New Risk • Jan 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. New Risk • Nov 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$98.1m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Duyuru • Oct 28
Silicom Ltd. Provides Earnings Guidance for the Fourth Quarter of 2023 Silicom Ltd. provided earnings guidance for the fourth quarter of 2023. For the period, the company expects revenue to be in the range between $20 million and $21 million, and that 2024 as a whole will be challenging. However, expect to return to double digit growth in 2025. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: US$1.80 (vs US$0.89 in 3Q 2022) Third quarter 2023 results: EPS: US$1.80 (up from US$0.89 in 3Q 2022). Revenue: US$300.6m (up US$261.4m from 3Q 2022). Net income: US$12.1m (up 102% from 3Q 2022). Profit margin: 4.0% (down from 15% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 17% p.a. on average during the next 3 years, while revenues in the Communications industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. New Risk • Oct 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.1% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorates as stock falls 34% After last week's 34% share price decline to US$15.49, the stock trades at a trailing P/E ratio of 5.5x. Average forward P/E is 19x in the Communications industry in the US. Total loss to shareholders of 58% over the past three years. Duyuru • Oct 05
Silicom Ltd. to Report Q3, 2023 Results on Oct 26, 2023 Silicom Ltd. announced that they will report Q3, 2023 results on Oct 26, 2023 Duyuru • Aug 17
Silicom Launches New High-End Edge Product Line Silicom Ltd. launched a new line of advanced high-end Edge platforms together with a major design win and initial $3.5 million order. The order for these feature-rich, high compute-power products was placed by a security solution vendor, one of Silicom's long-time customers, to support its advanced compute and networking-intensive use cases. Deliveries of first production units are planned for the first quarter of 2024. In parallel, Silicom is in discussions and POCs regarding these products with other customers and prospects for a diverse range of AI, cybersecurity, SASE, SD-WAN, content delivery and additional applications. Duyuru • Aug 01
Silicom Ltd. Provides Earnings Guidance for the Third Quarter of 2023 Silicom Ltd. provided earnings guidance for the third quarter of 2023. For the quarter, the company expects that it will be a slower quarter, with revenues ranging between $30 million and $31 million. Reported Earnings • Jul 31
Second quarter 2023 earnings released: EPS: US$0.56 (vs US$0.68 in 2Q 2022) Second quarter 2023 results: EPS: US$0.56 (down from US$0.68 in 2Q 2022). Revenue: US$38.1m (up 12% from 2Q 2022). Net income: US$3.81m (down 16% from 2Q 2022). Profit margin: 10.0% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Communications industry in the US. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Duyuru • Jul 07
Silicom Ltd. Launches Edge AI Product Line and Announces Partnership with Hailo Silicom Ltd. announced the first in a new line of Edge AI products, the first fruit of a new partnership that it has formed with Hailo. The new product line integrates Hailo's AI-accelerators into Silicom's existing Edge platforms, thereby solving performance challenges for Edge AI use cases. As a result, Silicom's products will be able to offer visual processing and AI inference at the edge at a uniquely attractive price/performance ratio. Duyuru • Jul 04
Silicom Ltd. to Report Q2, 2023 Results on Jul 31, 2023 Silicom Ltd. announced that they will report Q2, 2023 results on Jul 31, 2023 Reported Earnings • Mar 23
Full year 2022 earnings released: EPS: US$2.73 (vs US$1.54 in FY 2021) Full year 2022 results: EPS: US$2.73 (up from US$1.54 in FY 2021). Revenue: US$150.6m (up 17% from FY 2021). Net income: US$18.3m (up 74% from FY 2021). Profit margin: 12% (up from 8.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Communications industry in the US. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 31
Full year 2022 earnings released: EPS: US$2.73 (vs US$1.54 in FY 2021) Full year 2022 results: EPS: US$2.73 (up from US$1.54 in FY 2021). Revenue: US$150.6m (up 17% from FY 2021). Net income: US$18.3m (up 74% from FY 2021). Profit margin: 12% (up from 8.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Communications industry in the US. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 31
Silicom Ltd. Provides Revenue Guidance for the First Quarter of 2023 Silicom Ltd. provided revenue guidance for the first quarter of 2023. The company projects that revenues for the first quarter of 2023 will range between $37 million and $38 million. The midpoint of this range represents 17% year-over-year revenue growth over the first quarter of 2022. Recent Insider Transactions Derivative • Jan 16
Director notifies of intention to sell stock Yeshayahu Orbach intends to sell 13k shares in the next 90 days after lodging an Intent To Sell Form on the 11th of January. If the sale is conducted around the recent share price of US$46.27, it would amount to US$617k. As of today, Yeshayahu currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Duyuru • Jan 04
Silicom Ltd. to Report Q4, 2022 Results on Jan 30, 2023 Silicom Ltd. announced that they will report Q4, 2022 results on Jan 30, 2023 Board Change • Nov 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Ayelet Hayak was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: US$0.89 (vs US$0.39 in 3Q 2021) Third quarter 2022 results: EPS: US$0.89 (up from US$0.39 in 3Q 2021). Revenue: US$39.2m (up 19% from 3Q 2021). Net income: US$5.99m (up 129% from 3Q 2021). Profit margin: 15% (up from 8.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Communications industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: US$0.68 (vs US$0.30 in 2Q 2021) Second quarter 2022 results: EPS: US$0.68 (up from US$0.30 in 2Q 2021). Revenue: US$34.2m (up 13% from 2Q 2021). Net income: US$4.52m (up 122% from 2Q 2021). Profit margin: 13% (up from 6.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 7.1% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Jun 13
CEO, President & Director notifies of intention to sell stock Yeshayahu Orbach intends to sell 13k shares in the next 90 days after lodging an Intent To Sell Form on the 9th of June. If the sale is conducted around the recent share price of US$35.90, it would amount to US$449k. For the year to December 2015, Yeshayahu's total compensation was 35% salary and 65% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. As of today, Yeshayahu currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: US$0.33 (vs US$0.38 in 1Q 2021) First quarter 2022 results: EPS: US$0.33 (down from US$0.38 in 1Q 2021). Revenue: US$32.1m (up 11% from 1Q 2021). Net income: US$2.17m (down 16% from 1Q 2021). Profit margin: 6.8% (down from 8.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 18%, compared to a 9.7% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Ayelet Hayak was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jan 29
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$1.54 (up from US$0.80 in FY 2020). Revenue: US$128.5m (up 20% from FY 2020). Net income: US$10.5m (up 84% from FY 2020). Profit margin: 8.2% (up from 5.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 16%, compared to a 8.6% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Jan 06
CEO, President & Director notifies of intention to sell stock Yeshayahu Orbach intends to sell 13k shares in the next 90 days after lodging an Intent To Sell Form on the 31st of December. If the sale is conducted around the recent share price of US$50.18, it would amount to US$669k. For the year to December 2020, Yeshayahu's total compensation was 35% salary and 65% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. As of today, Yeshayahu currently holds no shares directly (This sale likely refers to shares that have not yet been received). Company insiders have collectively sold US$17m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Nov 09
CEO, President & Director notifies of intention to sell stock Yeshayahu Orbach intends to sell 13k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of November. If the sale is conducted around the recent share price of US$41.89, it would amount to US$559k. For the year to December 2020, Yeshayahu's total compensation was 35% salary and 65% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. As of today, Yeshayahu currently holds no shares directly (This sale likely refers to shares that have not yet been received). Company insiders have collectively sold US$17m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Oct 30
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$32.9m (up 16% from 3Q 2020). Net income: US$2.62m (up 25% from 3Q 2020). Profit margin: 8.0% (up from 7.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS US$0.30 (vs US$0.18 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$30.3m (up 31% from 2Q 2020). Net income: US$2.03m (up 56% from 2Q 2020). Profit margin: 6.7% (up from 5.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Price Target Changed • May 05
Price target increased to US$57.00 Up from US$53.00, the current price target is provided by 1 analyst. New target price is 38% above last closing price of US$41.33. Stock is up 32% over the past year. Reported Earnings • May 01
First quarter 2021 earnings released: EPS US$0.38 (vs US$0.20 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$29.0m (up 31% from 1Q 2020). Net income: US$2.60m (up 74% from 1Q 2020). Profit margin: 8.9% (up from 6.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS US$0.80 (vs US$1.36 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: US$107.4m (up 2.1% from FY 2019). Net income: US$5.73m (down 44% from FY 2019). Profit margin: 5.3% (down from 9.7% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 03
Insider recently sold US$3.9m worth of stock On the 25th of February, Zohar Zisapel sold around 77k shares on-market at roughly US$50.97 per share. In the last 3 months, they made an even bigger sale worth US$7.9m. Insiders have been net sellers, collectively disposing of US$17m more than they bought in the last 12 months. Recent Insider Transactions • Feb 24
Insider recently sold US$7.9m worth of stock On the 19th of February, Zohar Zisapel sold around 150k shares on-market at roughly US$52.35 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$13m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improved over the past week After last week's 17% share price gain to US$54.92, the stock is trading at a trailing P/E ratio of 68.3x, up from the previous P/E ratio of 58.2x. This compares to an average P/E of 43x in the Communications industry in the US. Total return to shareholders over the past three years is a loss of 15%. Recent Insider Transactions • Feb 12
Insider recently sold US$5.0m worth of stock On the 9th of February, Zohar Zisapel sold around 118k shares on-market at roughly US$42.77 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Is New 90 Day High Low • Feb 10
New 90-day high: US$46.85 The company is up 23% from its price of US$38.03 on 11 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Communications industry, which is up 26% over the same period. Reported Earnings • Jan 30
Full year 2020 earnings released: EPS US$0.80 (vs US$1.36 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: US$107.4m (up 2.1% from FY 2019). Net income: US$5.73m (down 44% from FY 2019). Profit margin: 5.3% (down from 9.7% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue beats expectations Revenue exceeded analyst estimates by 3.6%. Over the next year, revenue is forecast to grow 17%, compared to a 4.0% growth forecast for the Communications industry in the US.