Renaissance Technologies LLC Buys New Shares in Silicom Ltd $SILC

Renaissance Technologies LLC bought a new position in Silicom Ltd (NASDAQ:SILC) in the 1st quarter, Holdings Channel.com reports. The fund bought 25,437 shares of the technology company’s stock, valued at approximately $537,000.

A number of other institutional investors have also bought and sold shares of SILC. Barclays PLC lifted its position in shares of Silicom by 33.8% in the fourth quarter. Barclays PLC now owns 3,670 shares of the technology company’s stock valued at $54,000 after acquiring an additional 927 shares in the last quarter. Citadel Advisors LLC grew its position in shares of Silicom by 7.3% during the third quarter. Citadel Advisors LLC now owns 16,492 shares of the technology company’s stock worth $292,000 after purchasing an additional 1,117 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Silicom during the fourth quarter worth about $29,000. Goldman Sachs Group Inc. raised its stake in Silicom by 15.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 13,155 shares of the technology company’s stock valued at $193,000 after purchasing an additional 1,751 shares during the period. Finally, First Wilshire Securities Management Inc. raised its stake in Silicom by 3.6% during the 1st quarter. First Wilshire Securities Management Inc. now owns 315,642 shares of the technology company’s stock valued at $6,660,000 after purchasing an additional 10,834 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Liron Eizenman sold 18,072 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $48.53, for a total transaction of $877,034.16. Following the completion of the transaction, the chief executive officer directly owned 9,928 shares of the company’s stock, valued at approximately $481,805.84. This represents a 64.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eran Gilad sold 7,000 shares of Silicom stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $44.45, for a total value of $311,150.00. Additional details regarding this sale are available in the official SEC disclosure. 25.38% of the stock is currently owned by corporate insiders.

Silicom Stock Down 1.7%

Shares of SILC stock opened at $48.65 on Tuesday. The company’s fifty day simple moving average is $43.30 and its two-hundred day simple moving average is $33.29. Silicom Ltd has a 52 week low of $13.34 and a 52 week high of $52.95. The stock has a market cap of $279.74 million, a P/E ratio of -28.45 and a beta of 1.56.

Silicom (NASDAQ:SILC) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Silicom had a negative return on equity of 8.37% and a negative net margin of 12.98%.The firm had revenue of $23.81 million during the quarter, compared to analyst estimates of $20.58 million.

Wall Street Analyst Weigh In

SILC has been the topic of a number of research analyst reports. Needham & Company LLC raised Silicom from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, July 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicom in a research report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Silicom Profile

Silicom Ltd. is an Israel‐based provider of advanced networking infrastructure products designed to enhance data throughput, security, and functionality in enterprise, cloud, telecommunications, and edge‐computing environments. The company develops and manufactures a range of network interface cards (NICs), specialized adapters, and turnkey network appliances that support high‐performance packet processing, encryption, compression, and traffic optimization. Silicom’s solutions are engineered to offload complex network functions from central processing units, enabling customers to achieve greater efficiency, reliability, and scalability in their data centers.

Founded in 1987 and headquartered in Lod, Israel, Silicom has grown from a niche hardware developer into a global supplier of connectivity and networking solutions.