Zohar Zisapel's holding is worth around $5.6 million.
Zohar Zisapel, co-founder of network connectivity solutions company Silicom Ltd. (Nasdaq:SILC; TASE:SILC) has increased his stake in the company to 13.2% from 10.1%, exploiting the recent falls in the company's share. Silicom is part of the RAD Group owned by the brothers Zohar and Yehuda Zisapel.
According to a filing with the US Securities and Exchange Commission (SEC), Zohar Zisapel snow owns 869,000 Silicom shares. At the current price of $6.40 each, Zisapel's holding is worth $5.6 million.
Silicom currently has a market cap of $42 million. Its share price has fallen by 76% in less than a year. The company published its second quarter financials a month ago, which revealed that after 17 consecutive quarters of growth, it too is feeling the effect of the global economic slowdown, with revenue and earnings down on the corresponding quarter in 2007.
Published by Globes [online], Israel business news - www.globes-online.com - on August 28, 2008
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