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Silicom +2.6% on dividend suspension

Published 03/15/2018, 10:31 AM
© Reuters.  Silicom +2.6% on dividend suspension
SILC
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  • Silicom Ltd . (NASDAQ:SILC) shares are up 2.6% as the company suspends its dividend in the wake of a canceled large customer order.
  • Silicom says it expects to “close several major, strategic new SD-WAN and NFV-related vCPE Design Wins from major telcos” with the first announcement coming in the “near term.”
  • Silicom says the significant size of these deals, along with the financial terms and required working capital, led to the dividend suspension to help support long-term growth.
  • Previously: Silicom plunges after losing largest order (March 13)
  • Previously: Needham lowers Silicom's price target but says to buy on overreaction (March 14)
  • Now read: Bitauto -11.3% after earnings with downside revenue guidance


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