Eagle Asset Management Inc. raised its stake in shares of Silicon Labs (NASDAQ:SLAB) by 1,539.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 331,956 shares of the semiconductor company’s stock after purchasing an additional 311,714 shares during the quarter. Eagle Asset Management Inc. owned 0.77% of Silicon Labs worth $29,842,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLAB. Stephens Investment Management Group LLC acquired a new stake in Silicon Labs during the first quarter valued at approximately $28,314,000. AXA raised its stake in shares of Silicon Labs by 560.5% in the fourth quarter. AXA now owns 217,957 shares of the semiconductor company’s stock valued at $19,246,000 after acquiring an additional 184,957 shares during the last quarter. Robecosam AG raised its stake in shares of Silicon Labs by 163.5% in the fourth quarter. Robecosam AG now owns 195,000 shares of the semiconductor company’s stock valued at $17,345,000 after acquiring an additional 121,000 shares during the last quarter. BlackRock Inc. raised its stake in shares of Silicon Labs by 2.2% in the fourth quarter. BlackRock Inc. now owns 4,765,980 shares of the semiconductor company’s stock valued at $420,837,000 after acquiring an additional 102,811 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Silicon Labs in the fourth quarter valued at approximately $6,123,000. 89.71% of the stock is currently owned by institutional investors.
Silicon Labs opened at $104.25 on Tuesday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.74 and a quick ratio of 6.21. Silicon Labs has a fifty-two week low of $66.35 and a fifty-two week high of $105.85. The company has a market capitalization of $4.45 billion, a P/E ratio of 44.36, a P/E/G ratio of 2.60 and a beta of 1.43.
Silicon Labs (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, April 25th. The semiconductor company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. Silicon Labs had a net margin of 7.30% and a return on equity of 11.67%. The firm had revenue of $205.38 million during the quarter, compared to analysts’ expectations of $199.33 million. During the same quarter in the previous year, the company posted $0.63 EPS. Silicon Labs’s revenue was up 14.7% on a year-over-year basis. sell-side analysts forecast that Silicon Labs will post 2.63 EPS for the current fiscal year.
In related news, SVP Sandeep P. Kumar sold 5,750 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $100.00, for a total value of $575,000.00. Following the completion of the transaction, the senior vice president now owns 41,633 shares in the company, valued at approximately $4,163,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.96% of the company’s stock.
SLAB has been the subject of a number of research analyst reports. B. Riley reiterated a “buy” rating on shares of Silicon Labs in a research note on Monday, January 29th. Roth Capital lifted their target price on shares of Silicon Labs from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Drexel Hamilton reiterated a “buy” rating and issued a $111.00 target price (up previously from $103.00) on shares of Silicon Labs in a research note on Wednesday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Silicon Labs in a research note on Thursday, February 1st. Finally, Zacks Investment Research cut shares of Silicon Labs from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $109.80.
Silicon Labs Profile
Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, such as 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, including multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.
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