Legal & General Group Plc boosted its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 24.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,388 shares of the semiconductor company’s stock after buying an additional 5,244 shares during the period. Legal & General Group Plc owned approximately 0.06% of Silicon Laboratories worth $1,939,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC raised its position in shares of Silicon Laboratories by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 7,219 shares of the semiconductor company’s stock valued at $531,000 after buying an additional 24 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Silicon Laboratories by 3.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,685 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 49 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Silicon Laboratories by 0.5% in the first quarter. Victory Capital Management Inc. now owns 26,441 shares of the semiconductor company’s stock valued at $1,945,000 after buying an additional 125 shares during the last quarter. Advantus Capital Management Inc raised its position in shares of Silicon Laboratories by 3.4% in the first quarter. Advantus Capital Management Inc now owns 5,363 shares of the semiconductor company’s stock valued at $394,000 after buying an additional 175 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Silicon Laboratories by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,656 shares of the semiconductor company’s stock valued at $1,078,000 after buying an additional 200 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.
Shares of Silicon Laboratories, Inc. (SLAB) opened at 75.15 on Friday. The company has a market cap of $3.18 billion, a P/E ratio of 45.05 and a beta of 1.23. Silicon Laboratories, Inc. has a 52 week low of $52.00 and a 52 week high of $79.15. The company’s 50-day moving average price is $70.53 and its 200 day moving average price is $71.19.
Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. The firm had revenue of $190.10 million for the quarter, compared to the consensus estimate of $186.46 million. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, equities analysts forecast that Silicon Laboratories, Inc. will post $3.06 EPS for the current fiscal year.
Several research analysts have weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 target price (up from $82.00) on shares of Silicon Laboratories in a research report on Thursday. BidaskClub lowered Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. B. Riley reaffirmed a “buy” rating and issued a $81.00 target price on shares of Silicon Laboratories in a research report on Tuesday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $85.00 price objective (up previously from $80.00) on shares of Silicon Laboratories in a report on Thursday. Finally, Drexel Hamilton reissued a “buy” rating and set a $85.00 price objective (up previously from $80.00) on shares of Silicon Laboratories in a report on Saturday, April 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $80.30.
In other Silicon Laboratories news, Director William P. Wood sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $70.75, for a total transaction of $353,750.00. Following the transaction, the director now owns 35,526 shares of the company’s stock, valued at $2,513,464.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Brandon Tolany sold 26,826 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $71.31, for a total value of $1,912,962.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,326 shares of company stock worth $9,207,087. Company insiders own 34.82% of the company’s stock.
About Silicon Laboratories
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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