Renaissance Technologies LLC Increases Position in Silicom Ltd (SILC)

Renaissance Technologies LLC increased its position in shares of Silicom Ltd (NASDAQ:SILC) by 54.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,247 shares of the technology company’s stock after buying an additional 14,562 shares during the period. Renaissance Technologies LLC owned about 0.56% of Silicom worth $2,049,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of Silicom by 26.8% in the first quarter. Victory Capital Management Inc. now owns 2,179 shares of the technology company’s stock worth $108,000 after buying an additional 461 shares in the last quarter. American International Group Inc. raised its stake in shares of Silicom by 7.2% in the first quarter. American International Group Inc. now owns 3,461 shares of the technology company’s stock worth $172,000 after buying an additional 232 shares in the last quarter. TFS Capital LLC bought a new stake in shares of Silicom during the first quarter worth $221,000. Eagle Global Advisors LLC raised its stake in shares of Silicom by 2.1% in the first quarter. Eagle Global Advisors LLC now owns 9,917 shares of the technology company’s stock worth $493,000 after buying an additional 200 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Silicom by 10.3% in the first quarter. Bank of New York Mellon Corp now owns 16,234 shares of the technology company’s stock worth $807,000 after buying an additional 1,517 shares in the last quarter. Institutional investors and hedge funds own 25.45% of the company’s stock.

Shares of Silicom Ltd (NASDAQ SILC) traded up 0.31% during midday trading on Friday, hitting $51.66. 853 shares of the stock were exchanged. Silicom Ltd has a 12 month low of $34.46 and a 12 month high of $56.99. The firm’s 50-day moving average is $50.46 and its 200-day moving average is $46.57. The stock has a market cap of $383.32 million, a price-to-earnings ratio of 26.70 and a beta of 1.22.

Silicom (NASDAQ:SILC) last issued its earnings results on Monday, July 24th. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Silicom had a net margin of 13.34% and a return on equity of 11.94%. The firm had revenue of $30.30 million during the quarter, compared to analysts’ expectations of $28.33 million. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. Equities research analysts predict that Silicom Ltd will post $2.74 earnings per share for the current year.

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A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $67.00 target price (up from $60.00) on shares of Silicom in a research note on Tuesday, July 25th. BidaskClub downgraded shares of Silicom from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th.

About Silicom

Silicom Ltd. (Silicom) is engaged in the design, manufacture, marketing and support of networking and data infrastructure solutions for a range of servers, server-based systems and communications devices. The Company’s products include server network interface cards with and without bypass (Server Adapters); Intelligent and programmable cards, with features, such as encryption, acceleration, data compression, redirection, time stamping, network capture solutions, field programmable gate array (FPGA) based ultra-low latency solutions, and/or other offload features and/or compute blades (Smart Cards), and standalone Products.

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Institutional Ownership by Quarter for Silicom (NASDAQ:SILC)

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