Russell Investments Group Ltd. reduced its holdings in shares of Silicom Ltd (NASDAQ:SILC) by 54.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,433 shares of the technology company’s stock after selling 4,106 shares during the quarter. Russell Investments Group Ltd.’s holdings in Silicom were worth $201,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new position in Silicom in the 3rd quarter worth about $253,000. Goldman Sachs Group Inc. increased its holdings in Silicom by 718.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 42,544 shares of the technology company’s stock worth $1,887,000 after purchasing an additional 37,349 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Silicom by 7.2% in the 2nd quarter. Wells Fargo & Company MN now owns 35,205 shares of the technology company’s stock worth $1,562,000 after purchasing an additional 2,351 shares in the last quarter. EAM Investors LLC acquired a new position in Silicom in the 2nd quarter worth about $3,006,000. Finally, Ameriprise Financial Inc. acquired a new position in Silicom in the 2nd quarter worth about $1,036,000. Institutional investors and hedge funds own 25.29% of the company’s stock.
SILC has been the subject of a number of recent research reports. Needham & Company LLC upped their target price on Silicom from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. BidaskClub cut Silicom from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th.
Silicom (NASDAQ:SILC) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.04. The company had revenue of $32.30 million during the quarter, compared to analysts’ expectations of $31.11 million. Silicom had a return on equity of 12.77% and a net margin of 13.68%. The business’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share.
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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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