As previously reported, Needham analyst Alex Henderson downgraded Silicom to Hold from Buy after the company offered "depressingly weak" guidance for Q2 and "put salt in the wound" saying the second half of the year may be flat to the first half, with sharply lower year-to-year sales and EPS. The analyst notes that Silicom tried to downplay the weakened outlook insisting its timing and not lost business, but the guide of down Q2 and flat second half of the year versus the first half "puts the stock in limbo" for at least 6-9 months. Overall, Henderson says he is "seriously disappointed by this outcome."