TIAA CREF Investment Management LLC Decreases Holdings in Silicom Ltd (SILC)

TIAA CREF Investment Management LLC cut its holdings in shares of Silicom Ltd (NASDAQ:SILC) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,900 shares of the technology company’s stock after selling 2,900 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in Silicom were worth $203,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN increased its stake in shares of Silicom by 9.3% in the third quarter. Wells Fargo & Company MN now owns 38,485 shares of the technology company’s stock worth $2,252,000 after buying an additional 3,280 shares during the period. Taylor Frigon Capital Management LLC purchased a new position in shares of Silicom in the fourth quarter worth $2,792,000. Westwood Management Corp IL increased its stake in shares of Silicom by 100.0% in the fourth quarter. Westwood Management Corp IL now owns 20,000 shares of the technology company’s stock worth $1,402,000 after buying an additional 10,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Silicom in the fourth quarter worth $13,229,000. Finally, Hood River Capital Management LLC purchased a new position in shares of Silicom in the fourth quarter worth $7,485,000. 33.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Silicom stock opened at $38.08 on Monday. The firm has a market cap of $287.49 million, a price-to-earnings ratio of 16.56 and a beta of 1.35. Silicom Ltd has a 12-month low of $32.00 and a 12-month high of $77.95.

Silicom (NASDAQ:SILC) last issued its quarterly earnings data on Monday, April 30th. The technology company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.72). The company had revenue of $29.50 million for the quarter, compared to analysts’ expectations of $29.90 million. Silicom had a net margin of 13.61% and a return on equity of 13.28%. Silicom’s quarterly revenue was up 16.6% on a year-over-year basis.

Several brokerages recently commented on SILC. Needham & Company LLC decreased their target price on shares of Silicom from $90.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, March 14th. BidaskClub downgraded shares of Silicom from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 13th.

About Silicom

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 networking interface cards with and without bypass for the server networking industry.

Institutional Ownership by Quarter for Silicom (NASDAQ:SILC)

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