Granite Investment Partners LLC Has $729,000 Holdings in Silicon Laboratories (NASDAQ:SLAB)

Granite Investment Partners LLC grew its position in Silicon Laboratories (NASDAQ:SLAB) by 13.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,014 shares of the semiconductor company’s stock after purchasing an additional 1,087 shares during the quarter. Granite Investment Partners LLC’s holdings in Silicon Laboratories were worth $729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC grew its holdings in Silicon Laboratories by 8.7% in the first quarter. Stephens Investment Management Group LLC now owns 447,370 shares of the semiconductor company’s stock worth $36,174,000 after purchasing an additional 35,757 shares during the last quarter. Vanguard Group Inc grew its holdings in Silicon Laboratories by 2.3% in the third quarter. Vanguard Group Inc now owns 3,995,961 shares of the semiconductor company’s stock worth $366,828,000 after purchasing an additional 90,944 shares during the last quarter. Stephens Inc. AR grew its holdings in Silicon Laboratories by 47.9% in the fourth quarter. Stephens Inc. AR now owns 2,015 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 653 shares during the last quarter. Raymond James & Associates grew its holdings in Silicon Laboratories by 73.2% in the first quarter. Raymond James & Associates now owns 38,263 shares of the semiconductor company’s stock worth $3,094,000 after purchasing an additional 16,173 shares during the last quarter. Finally, Suntrust Banks Inc. grew its holdings in Silicon Laboratories by 2.2% in the fourth quarter. Suntrust Banks Inc. now owns 25,267 shares of the semiconductor company’s stock worth $1,991,000 after purchasing an additional 543 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on SLAB. Cowen reissued an “outperform” rating and set a $130.00 price objective (up from $98.00) on shares of Silicon Laboratories in a report on Thursday, April 25th. Needham & Company LLC reissued a “hold” rating on shares of Silicon Laboratories in a report on Thursday, April 25th. Zacks Investment Research lowered shares of Silicon Laboratories from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 1st. MKM Partners boosted their price objective on shares of Silicon Laboratories to $105.00 in a report on Thursday, April 25th. Finally, BidaskClub raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $105.70.

In related news, Director Nina Richardson sold 913 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $91.41, for a total transaction of $83,457.33. Following the completion of the transaction, the director now directly owns 6,885 shares in the company, valued at $629,357.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack R. Lazar sold 750 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $109.75, for a total transaction of $82,312.50. Following the transaction, the director now owns 14,391 shares of the company’s stock, valued at $1,579,412.25. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Shares of SLAB opened at $98.79 on Friday. The firm has a market cap of $4.34 billion, a PE ratio of 34.54, a P/E/G ratio of 3.28 and a beta of 1.64. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 6.04. Silicon Laboratories has a 1-year low of $73.13 and a 1-year high of $110.43.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.12. The firm had revenue of $188.11 million for the quarter, compared to analyst estimates of $188.02 million. Silicon Laboratories had a net margin of 7.35% and a return on equity of 10.74%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 earnings per share. Sell-side analysts anticipate that Silicon Laboratories will post 2.04 EPS for the current fiscal year.

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

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