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SILC

Silicom

$58.56

-1.69 (-2.81%)

15:59
03/13/18
03/13
15:59
03/13/18
15:59

Silicom says customer cancels new cloud infrastructure architecture order

Silicom announced that the "top-10 Cloud player" that awarded Silicom its largest-ever design win, as reported in March 2017, has decided to abort the new cloud infrastructure architecture for which it had ordered the Silicom 100-Gigabit-Switch-Fabric-On-A-NIC product. In communicating its decision, the customer indicated that the cancellation was unrelated to Silicom's product, development or support, "which was flawless; rather, its decision to abort the configuration was based on issues and challenges faced at a much higher level of the new Cloud architecture," the company said. Silicom has open POs related to the cancelled program that are due for delivery within the first and second quarters of 2018. The company is now evaluating the impact of the news on the results of these quarters, as well as on its future results. Shaike Orbach, Silicom's President and CEO, said, "While we are obviously disappointed with the customer's decision, we are encouraged by the technological success of the highly complex product that we developed for them: a success which has generated significant admiration for Silicom within this giant customer and its Tier-1 server manufacturer partners. We hope to leverage this trust to address additional significant opportunities with both the customer and its partners."

  • 29

    Mar

SILC Silicom
$58.56

-1.69 (-2.81%)

04/27/17
04/27/17
NO CHANGE

Silicom reports Q1 non-GAAP EPS 52c, consensus 48c
Reports Q1 revenue $25.3M, consensus $23.86M.
07/25/17
NEED
07/25/17
NO CHANGE
Target $67
NEED
Buy
Silicom price target raised to $67 from $60 at Needham
Needham analyst Alex Henderson raised his price target for Silicom to $67 from $60 saying the company is at an inflection point where numerous demand drivers are poised to drive significantly higher rates of growth. The analyst reiterates a Buy rating on the shares.
01/12/18
NEED
01/12/18
NO CHANGE
Target $90
NEED
Buy
Silicom price target raised to $90 from $75 at Needham
Needham analyst Alex Henderson raised his price target on Silicom to $90, citing strong ramp and lengthening visibility from the company's deals signed over the past year. The analyst says the booked deals could double the size of the company over the next two years as they ramp to full production in that time span. Henderson keeps his Buy rating on Silicom.

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