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What: Shares of Silicom (NASDAQ:SILC) plunged today by as much as 12% after the company reported earnings.
So what: Revenue in the quarter added up to $15.7 million, with non-GAAP earnings per share of $0.48. Both figures topped consensus estimates of $15.5 million in sales and $0.40 per share in adjusted profit, but still weren't enough for investors.
Now what: The company said it scored two major deals, one with an existing customer and another with a new customer. The deals weren't enough to impress investors, though. Maxim Group downgraded its rating on Silicom from "buy" to "hold" following the results, but it was defended at Zacks.
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