Insight Capital Research & Management Inc. lowered its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 54.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,770 shares of the semiconductor company’s stock after selling 32,587 shares during the period. Insight Capital Research & Management Inc. owned 0.06% of Silicon Laboratories worth $1,830,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Silicon Laboratories during the fourth quarter valued at approximately $24,416,000. USA Financial Portformulas Corp acquired a new position in shares of Silicon Laboratories during the fourth quarter valued at approximately $522,000. Teachers Advisors LLC boosted its position in shares of Silicon Laboratories by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 310,064 shares of the semiconductor company’s stock valued at $20,154,000 after buying an additional 13,999 shares in the last quarter. GW&K Investment Management LLC acquired a new position in shares of Silicon Laboratories during the first quarter valued at approximately $26,565,000. Finally, Capstone Asset Management Co. acquired a new position in shares of Silicon Laboratories during the first quarter valued at approximately $222,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.
Silicon Laboratories, Inc. (NASDAQ:SLAB) traded up 1.49% during midday trading on Tuesday, reaching $71.35. 169,540 shares of the company’s stock traded hands. Silicon Laboratories, Inc. has a 52-week low of $51.31 and a 52-week high of $78.45. The stock has a market cap of $3.02 billion, a P/E ratio of 42.78 and a beta of 1.24. The company’s 50-day moving average price is $70.65 and its 200-day moving average price is $71.01.
Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, April 26th. The semiconductor company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.23. Silicon Laboratories had a net margin of 9.95% and a return on equity of 11.36%. The firm had revenue of $179 million during the quarter, compared to analysts’ expectations of $176.89 million. During the same period last year, the company posted $0.51 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts predict that Silicon Laboratories, Inc. will post $2.93 EPS for the current fiscal year.
Several research analysts have recently commented on SLAB shares. Zacks Investment Research raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Stifel Nicolaus reissued a “buy” rating and issued a $82.00 price objective on shares of Silicon Laboratories in a research note on Tuesday, June 6th. BidaskClub cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. DA Davidson boosted their target price on shares of Silicon Laboratories from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $83.00 target price on shares of Silicon Laboratories in a research note on Thursday, April 27th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Silicon Laboratories currently has an average rating of “Buy” and an average price target of $77.18.
In related news, Director William P. Wood sold 5,000 shares of Silicon Laboratories stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $70.75, for a total transaction of $353,750.00. Following the completion of the transaction, the director now directly owns 35,526 shares of the company’s stock, valued at approximately $2,513,464.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John C. Hollister sold 2,000 shares of Silicon Laboratories stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $68.25, for a total transaction of $136,500.00. Following the transaction, the chief financial officer now directly owns 70,767 shares of the company’s stock, valued at $4,829,847.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,326 shares of company stock valued at $9,207,087. Corporate insiders own 34.82% of the company’s stock.
Silicon Laboratories Company 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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