Public Employees Retirement System of Ohio boosted its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 2,162.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,693 shares of the semiconductor company’s stock after purchasing an additional 39,850 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.10% of Silicon Laboratories worth $3,331,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Silicon Laboratories by 4.7% in the second quarter. Vanguard Group Inc. now owns 3,446,677 shares of the semiconductor company’s stock valued at $235,581,000 after purchasing an additional 154,654 shares during the last quarter. State Street Corp increased its holdings in shares of Silicon Laboratories by 5.1% in the second quarter. State Street Corp now owns 1,520,505 shares of the semiconductor company’s stock valued at $103,925,000 after purchasing an additional 74,439 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Silicon Laboratories by 9.4% in the third quarter. Bank of New York Mellon Corp now owns 920,839 shares of the semiconductor company’s stock valued at $73,574,000 after purchasing an additional 79,247 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Silicon Laboratories by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 895,422 shares of the semiconductor company’s stock valued at $71,546,000 after purchasing an additional 3,229 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Silicon Laboratories by 3.6% in the second quarter. Northern Trust Corp now owns 709,518 shares of the semiconductor company’s stock valued at $48,495,000 after purchasing an additional 24,821 shares during the last quarter. Institutional investors own 90.80% of the company’s stock.
In related news, Director William P. Wood sold 5,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $91.30, for a total value of $456,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William G. Bock sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $89.24, for a total value of $223,100.00. Following the completion of the transaction, the director now owns 43,426 shares in the company, valued at approximately $3,875,336.24. The disclosure for this sale can be found here. Insiders have sold 14,700 shares of company stock worth $1,337,650 in the last quarter. Insiders own 34.82% of the company’s stock.
Several equities research analysts recently commented on the company. BidaskClub raised Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, January 6th. Zacks Investment Research cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Barclays reissued a “neutral” rating on shares of Silicon Laboratories in a research note on Friday, October 27th. B. Riley raised their price target on Silicon Laboratories from $90.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Canaccord Genuity raised their price target on Silicon Laboratories from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $99.44.
Silicon Laboratories, Inc. (SLAB) opened at $95.10 on Friday. Silicon Laboratories, Inc. has a fifty-two week low of $63.15 and a fifty-two week high of $96.93. The company has a quick ratio of 5.20, a current ratio of 5.66 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $4,041.56, a price-to-earnings ratio of 56.95, a P/E/G ratio of 2.45 and a beta of 1.37.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.09. Silicon Laboratories had a return on equity of 11.06% and a net margin of 9.60%. The company had revenue of $198.70 million for the quarter, compared to analysts’ expectations of $196.20 million. During the same period last year, the firm earned $0.77 earnings per share. Silicon Laboratories’s quarterly revenue was up 11.6% on a year-over-year basis. research analysts anticipate that Silicon Laboratories, Inc. will post 2.27 EPS for the current year.
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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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