The PNC Financial Services Group Inc. increased its holdings in shares of Silicom Ltd. (NASDAQ:SILC) by 20.9% in the first quarter, Holdings Channel reports. The firm owned 5,200 shares of the technology company’s stock after acquiring an additional 900 shares during the period. The PNC Financial Services Group Inc.’s holdings in Silicom were worth $234,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in SILC. BlackRock Inc. boosted its position in Silicom by 35.8% during the 4th quarter. BlackRock Inc. now owns 3,148 shares of the technology company’s stock worth $132,000 after purchasing an additional 830 shares during the period. Prelude Capital Management LLC purchased a new stake in Silicom during the 4th quarter worth $280,000. Meitav Dash Investments Ltd. purchased a new stake in Silicom during the 1st quarter worth $357,000. Diametric Capital LP purchased a new stake in Silicom during the 4th quarter worth $452,000. Finally, Cardinal Capital Management boosted its position in Silicom by 46.6% during the 1st quarter. Cardinal Capital Management now owns 10,449 shares of the technology company’s stock worth $471,000 after purchasing an additional 3,321 shares during the period. 49.18% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:SILC opened at $43.22 on Friday. The firm has a 50-day moving average price of $42.84. The stock has a market cap of $298.17 million, a PE ratio of 45.02 and a beta of 0.74. Silicom Ltd. has a 1-year low of $29.24 and a 1-year high of $59.27.
Separately, Needham & Company LLC upped their price target on shares of Silicom from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, April 30th.
Silicom Ltd., together with its subsidiaries, designs, manufactures, markets, and supports networking and data infrastructure solutions for a range of servers, server-based systems, and communications devices in North America, Europe, and the Asia Pacific. It offers server network interface cards; and smart cards, such as smart server adapters, which include redirector and switching cards, encryption and data compression hardware acceleration cards, forward error correction acceleration and offloading cards, time synchronization cards, and FPGA based cards.
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