Candriam Luxembourg S.C.A. boosted its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 8.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,801 shares of the semiconductor company’s stock after purchasing an additional 4,363 shares during the quarter. Candriam Luxembourg S.C.A. owned approximately 0.13% of Silicon Laboratories worth $4,458,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in SLAB. Quantbot Technologies LP bought a new position in Silicon Laboratories in the second quarter worth about $102,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 worth $111,000 after acquiring an additional 148 shares during the last quarter. Riverhead Capital Management LLC grew its stake 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 worth $157,000 after acquiring an additional 997 shares during the last quarter. Pier 88 Investment Partners LLC purchased a new stake in shares of Silicon Laboratories during the second quarter worth about $187,000. Finally, BT Investment Management Ltd purchased a new stake in shares of Silicon Laboratories during the second quarter worth about $202,000. Institutional investors and hedge funds own 88.65% of the company’s stock.
In related news, Director William P. Wood sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $92.50, for a total value of $462,500.00. Following the sale, the director now owns 30,526 shares in the company, valued at $2,823,655. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John C. Hollister sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $73.30, for a total value of $146,600.00. Following the completion of the sale, the chief financial officer now owns 68,767 shares in the company, valued at approximately $5,040,621.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,200 shares of company stock worth $3,752,229. 34.82% of the stock is owned by insiders.
A number of equities research analysts have recently weighed in on SLAB shares. Stifel Nicolaus boosted their price target on Silicon Laboratories from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, October 12th. Zacks Investment Research upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research note on Saturday, October 14th. BidaskClub upgraded Silicon Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Needham & Company LLC restated a “buy” rating and set a $85.00 price target (up previously from $80.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. Finally, Canaccord Genuity restated a “buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Silicon Laboratories in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $98.89.
Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) opened at $90.75 on Tuesday. The company has a market capitalization of $3,871.30, a P/E ratio of 39.89, a P/E/G ratio of 2.69 and a beta of 1.40. Silicon Laboratories, Inc. has a 52-week low of $61.80 and a 52-week high of $95.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.66 and a quick ratio of 5.20.
Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, October 25th. The semiconductor company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.09. The firm had revenue of $198.70 million for the quarter, compared to analyst estimates of $196.20 million. Silicon Laboratories had a return on equity of 11.06% and a net margin of 9.60%. Silicon Laboratories’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. equities analysts expect that Silicon Laboratories, Inc. will post 2.25 EPS for the current year.
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.
Want to see what other hedge funds are holding SLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Laboratories, Inc. (NASDAQ:SLAB).
Receive News & Ratings for Silicon Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.