Pacer Advisors Inc. bought a new position in Silicon Laboratories (NASDAQ:SLAB) in the 2nd quarter, Holdings Channel reports. The firm bought 17,427 shares of the semiconductor company’s stock, valued at approximately $1,802,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in Silicon Laboratories by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 797,323 shares of the semiconductor company’s stock valued at $62,837,000 after purchasing an additional 31,251 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Silicon Laboratories by 15.4% during the fourth quarter. Geode Capital Management LLC now owns 526,626 shares of the semiconductor company’s stock valued at $41,503,000 after buying an additional 70,432 shares during the period. First Republic Investment Management Inc. bought a new position in shares of Silicon Laboratories during the first quarter valued at approximately $206,000. Rhumbline Advisers grew its stake in shares of Silicon Laboratories by 0.9% during the first quarter. Rhumbline Advisers now owns 133,856 shares of the semiconductor company’s stock valued at $10,824,000 after buying an additional 1,173 shares during the last quarter. Finally, Texas Permanent School Fund grew its stake in shares of Silicon Laboratories by 3.6% during the first quarter. Texas Permanent School Fund now owns 29,257 shares of the semiconductor company’s stock valued at $2,366,000 after buying an additional 1,021 shares during the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.
Shares of NASDAQ:SLAB traded up $2.19 during trading on Wednesday, reaching $111.64. 11,235 shares of the company were exchanged, compared to its average volume of 206,097. The business’s fifty day simple moving average is $108.41 and its 200-day simple moving average is $97.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.47 and a quick ratio of 5.91. Silicon Laboratories has a 12-month low of $73.13 and a 12-month high of $115.29. The firm has a market capitalization of $4.78 billion, a PE ratio of 39.04, a P/E/G ratio of 3.33 and a beta of 1.56.
Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Silicon Laboratories had a return on equity of 9.97% and a net margin of 3.84%. The firm had revenue of $206.71 million during the quarter, compared to analyst estimates of $206.57 million. During the same quarter in the previous year, the business earned $0.92 earnings per share. Silicon Laboratories’s quarterly revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that Silicon Laboratories will post 2.07 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the company. Wells Fargo & Co began coverage on Silicon Laboratories in a research note on Tuesday, June 25th. They set an “outperform” rating and a $125.00 price target for the company. Zacks Investment Research cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. Benchmark began coverage on Silicon Laboratories in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $120.00 price objective on the stock. TheStreet lowered Silicon Laboratories from a “b” rating to a “c+” rating in a research note on Wednesday, July 24th. Finally, Roth Capital lifted their target price on Silicon Laboratories from $120.00 to $130.00 in a research report on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $109.70.
In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $103.35, for a total value of $103,350.00. Following the completion of the sale, the director now directly owns 38,791 shares in the company, valued at approximately $4,009,049.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John C. Hollister sold 10,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $110.00, for a total value of $1,100,000.00. Following the completion of the sale, the chief financial officer now owns 69,423 shares of the company’s stock, valued at $7,636,530. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $1,308,960 over the last 90 days. 2.10% of the stock is currently owned by company insiders.
About Silicon Laboratories
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, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as 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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