Silicom price target lowered to $58 from $65 at Needham

Needham analyst Alex Henderson lowered the firm’s price target on Silicom to $58 from $65 and keeps a Buy rating on the shares. The analyst said Silicom released a "strong" Q4 report, though management noted that supply is constrained and called out a substantial record backlog. The firm believes that, reacting to uncertainty, it is prudent to decelerate growth from Q1 despite the strong historical trajectory, strong pipeline, and ramping new programs.