ETF Managers Group LLC Acquires New Position in Silicom Ltd (SILC)
ETF Managers Group LLC acquired a new position in shares of Silicom Ltd (NASDAQ:SILC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,708 shares of the technology company’s stock, valued at approximately $120,000.
A number of other institutional investors have also recently modified their holdings of SILC. Victory Capital Management Inc. grew its stake in Silicom by 26.8% during 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 during the last quarter. American International Group Inc. grew its stake in Silicom by 7.2% during 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 during the last quarter. Bank of Montreal Can grew its stake in Silicom by 73.8% during the second quarter. Bank of Montreal Can now owns 7,191 shares of the technology company’s stock worth $320,000 after buying an additional 3,054 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in Silicom during the second quarter worth about $682,000. Finally, Bank of New York Mellon Corp grew its stake in Silicom by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 16,834 shares of the technology company’s stock worth $747,000 after buying an additional 600 shares during the last quarter. 21.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Silicom Ltd (NASDAQ:SILC) traded up 0.10% during mid-day trading on Friday, reaching $58.61. 15,842 shares of the company’s stock traded hands. Silicom Ltd has a 12 month low of $34.46 and a 12 month high of $59.43. The firm has a 50 day moving average price of $56.14 and a 200-day moving average price of $51.24. The stock has a market cap of $436.35 million, a PE ratio of 30.35 and a beta of 1.24.
Silicom (NASDAQ:SILC) last released its quarterly earnings data on Monday, July 24th. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. The business had revenue of $30.30 million during the quarter, compared to analysts’ expectations of $28.33 million. Silicom had a net margin of 13.34% and a return on equity of 11.94%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. On average, analysts predict that Silicom Ltd will post $2.74 earnings per share for the current fiscal year.
Several analysts have weighed in on SILC shares. BidaskClub raised shares of Silicom from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 price objective (up from $60.00) on shares of Silicom in a research note on Tuesday, July 25th.
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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