Stevens Capital Management LP purchased a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,510 shares of the semiconductor company’s stock, valued at approximately $2,222,000. Stevens Capital Management LP owned approximately 0.08% of Silicon Laboratories at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Silicon Laboratories by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,623 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 148 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Silicon Laboratories by 76.7% during the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock valued at $157,000 after buying an additional 997 shares in the last quarter. Pier 88 Investment Partners LLC purchased a new position in shares of Silicon Laboratories during the second quarter valued at $187,000. BT Investment Management Ltd purchased a new position in shares of Silicon Laboratories during the second quarter valued at $202,000. Finally, Capstone Asset Management Co. purchased a new position in shares of Silicon Laboratories during the first quarter valued at $222,000. Institutional investors and hedge funds own 88.98% of the company’s stock.
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Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) opened at 79.90 on Thursday. The company’s 50-day moving average price is $75.48 and its 200-day moving average price is $72.76. The firm has a market cap of $3.40 billion, a PE ratio of 47.64 and a beta of 1.25. Silicon Laboratories, Inc. has a 52-week low of $55.04 and a 52-week high of $80.10.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.08. The firm had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $186.46 million. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. Equities analysts expect that Silicon Laboratories, Inc. will post $3.06 earnings per share for the current fiscal year.
In other Silicon Laboratories news, CFO John C. Hollister sold 2,000 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $78.45, for a total transaction of $156,900.00. Following the completion of the transaction, the chief financial officer now owns 66,767 shares in the company, valued at approximately $5,237,871.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO George Tyson Tuttle sold 3,713 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $80.00, for a total value of $297,040.00. Following the transaction, the chief executive officer now owns 204,879 shares of the company’s stock, valued at approximately $16,390,320. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,213 shares of company stock valued at $2,032,190. Corporate insiders own 34.82% of the company’s stock.
A number of research analysts have recently weighed in on SLAB shares. BidaskClub downgraded Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Zacks Investment Research cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday. 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 research report on Thursday, July 27th. B. Riley reissued a “buy” rating and set a $90.00 price objective on shares of Silicon Laboratories in a research report on Friday, July 28th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $82.00 price objective on shares of Silicon Laboratories in a research report on Tuesday, June 6th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Silicon Laboratories currently has a consensus rating of “Buy” and a consensus target price of $80.70.
Silicon Laboratories Company 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.
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