Renaissance Technologies LLC Acquires New Holdings in Silicom Ltd $SILC

Renaissance Technologies LLC bought a new position in Silicom Ltd (NASDAQ:SILC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,437 shares of the technology company’s stock, valued at approximately $537,000. Renaissance Technologies LLC owned about 0.45% of Silicom at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First Wilshire Securities Management Inc. lifted its holdings in shares of 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 buying an additional 10,834 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Silicom in the fourth quarter worth $3,306,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Silicom during the fourth quarter valued at $2,639,000. Citadel Advisors LLC increased its position in Silicom by 7.3% during the third quarter. Citadel Advisors LLC now owns 16,492 shares of the technology company’s stock valued at $292,000 after acquiring an additional 1,117 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in Silicom in the third quarter valued at about $277,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SILC shares. Needham & Company LLC upgraded Silicom from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Thursday, July 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicom in a research note on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Insider Activity

In related news, CEO Liron Eizenman sold 18,072 shares of the business’s 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 in the company, valued at approximately $481,805.84. The trade was a 64.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Eran Gilad sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $44.45, for a total transaction of $311,150.00. Additional details regarding this sale are available in the official SEC disclosure. 25.38% of the stock is owned by company insiders.

Silicom Price Performance

NASDAQ:SILC opened at $48.65 on Tuesday. The firm has a market capitalization of $279.74 million, a price-to-earnings ratio of -28.45 and a beta of 1.56. Silicom Ltd has a one year low of $13.34 and a one year high of $52.95. The business has a fifty day moving average price of $43.30 and a 200-day moving average price of $33.29.

Silicom (NASDAQ:SILC) last announced its earnings results on Wednesday, July 29th. The technology company reported ($0.16) EPS for the quarter, topping 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 company had revenue of $23.81 million for the quarter, compared to analysts’ expectations of $20.58 million.

Silicom Company 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.