Silicon Laboratories, Inc. (SLAB) Stake Lessened by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 610,531 shares of the semiconductor company’s stock after selling 10,038 shares during the period. Mackenzie Financial Corp owned 1.43% of Silicon Laboratories worth $48,781,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLAB. Russell Investments Group Ltd. boosted its stake in shares of Silicon Laboratories by 4.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 49,010 shares of the semiconductor company’s stock worth $3,350,000 after acquiring an additional 2,136 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Silicon Laboratories by 62.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock valued at $57,523,000 after buying an additional 323,123 shares in the last quarter. First Trust Advisors LP lifted its stake in Silicon Laboratories by 54.4% in the 2nd quarter. First Trust Advisors LP now owns 40,486 shares of the semiconductor company’s stock valued at $2,767,000 after buying an additional 14,265 shares in the last quarter. TCW Group Inc. lifted its stake in Silicon Laboratories by 164.9% in the 3rd quarter. TCW Group Inc. now owns 229,473 shares of the semiconductor company’s stock valued at $18,335,000 after buying an additional 142,832 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in Silicon Laboratories in the 2nd quarter valued at about $1,635,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO George Tyson Tuttle sold 3,713 shares of Silicon Laboratories stock in a transaction 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 sale, the chief executive officer now directly owns 204,879 shares of the company’s stock, valued at approximately $16,390,320. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John C. Hollister sold 2,000 shares of Silicon Laboratories stock in a transaction on Monday, September 18th. The stock was sold at an average price of $78.45, for a total transaction of $156,900.00. Following the sale, the chief financial officer now directly owns 66,767 shares of the company’s stock, valued at $5,237,871.15. The disclosure for this sale can be found here. Insiders sold a total of 46,700 shares of company stock valued at $3,902,829 in the last three months. 34.82% of the stock is currently owned by corporate insiders.

Shares of Silicon Laboratories, Inc. (SLAB) opened at $86.40 on Wednesday. Silicon Laboratories, Inc. has a 1-year low of $63.15 and a 1-year high of $96.93. 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 firm has a market cap of $3,711.68, a P/E ratio of 38.25, a P/E/G ratio of 2.58 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.09. Silicon Laboratories had a net margin of 9.60% and a return on equity of 11.06%. The firm had revenue of $198.70 million during the quarter, compared to the consensus estimate of $196.20 million. During the same quarter last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. equities analysts expect that Silicon Laboratories, Inc. will post 2.25 earnings per share for the current fiscal year.

A number of research firms have commented on SLAB. Drexel Hamilton reiterated a “buy” rating and issued a $103.00 price objective (up previously from $85.00) on shares of Silicon Laboratories in a report on Wednesday, October 25th. Roth Capital increased their price objective on shares of Silicon Laboratories from $85.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Zacks Investment Research downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Silicon Laboratories in a report on Monday, September 18th. Finally, Canaccord Genuity increased their price objective on shares of Silicon Laboratories from $95.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 26th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $98.89.

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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.

Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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