First Trust Advisors LP decreased its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 38.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,826 shares of the semiconductor company’s stock after selling 15,660 shares during the quarter. First Trust Advisors LP owned 0.06% of Silicon Laboratories worth $1,984,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Silicon Laboratories in the 2nd quarter worth about $102,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Silicon Laboratories by 10.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,623 shares of the semiconductor company’s stock worth $111,000 after buying an additional 148 shares in the last quarter. Riverhead Capital Management LLC lifted its position in Silicon Laboratories by 76.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock worth $157,000 after buying an additional 997 shares in the last quarter. BT Investment Management Ltd acquired a new position in Silicon Laboratories during the 2nd quarter worth about $202,000. Finally, Capstone Asset Management Co. lifted its position in Silicon Laboratories by 8.6% during the 2nd quarter. Capstone Asset Management Co. now owns 3,280 shares of the semiconductor company’s stock worth $224,000 after buying an additional 260 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on SLAB. Drexel Hamilton reiterated a “buy” rating and set a $103.00 price target (up previously from $85.00) on shares of Silicon Laboratories in a research report on Wednesday, October 25th. Roth Capital upped their target price on shares of Silicon Laboratories from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. Zacks Investment Research downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Needham & Company LLC restated a “buy” rating and set a $85.00 target price on shares of Silicon Laboratories in a research report on Monday, September 18th. Finally, Canaccord Genuity upped their target price on shares of Silicon Laboratories from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Silicon Laboratories presently has an average rating of “Buy” and a consensus price target of $98.89.
In other news, CEO George Tyson Tuttle sold 3,713 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $80.00, for a total transaction of $297,040.00. Following the completion of the transaction, the chief executive officer now directly owns 204,879 shares of the company’s stock, valued at approximately $16,390,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William P. Wood sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $91.30, for a total transaction of $456,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,700 shares of company stock valued at $3,902,829. 34.82% of the stock is currently owned by company insiders.
Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) opened at $86.40 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.66 and a quick ratio of 5.20. The company has a market capitalization of $3,711.68, a PE ratio of 38.25, a PEG ratio of 2.58 and a beta of 1.37. Silicon Laboratories, Inc. has a 52 week low of $63.15 and a 52 week high of $96.93.
Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The company had revenue of $198.70 million during the quarter, compared to analysts’ expectations of $196.20 million. Silicon Laboratories had a return on equity of 11.06% and a net margin of 9.60%. Silicon Laboratories’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. sell-side analysts predict that Silicon Laboratories, Inc. will post 2.25 earnings per share for the current year.
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Silicon Laboratories Profile
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.
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