Victory Capital Management Inc. lowered its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB – Get Rating) by 14.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 260,618 shares of the semiconductor company’s stock after selling 44,309 shares during the period. Victory Capital Management Inc.’s holdings in Silicon Laboratories were worth $39,026,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of SLAB. Alliancebernstein L.P. grew its position in Silicon Laboratories by 40.9% during the 4th quarter. Alliancebernstein L.P. now owns 891,278 shares of the semiconductor company’s stock worth $183,978,000 after acquiring an additional 258,534 shares during the last quarter. Bank of Montreal Can grew its position in shares of Silicon Laboratories by 2,147.8% in the 4th quarter. Bank of Montreal Can now owns 79,213 shares of the semiconductor company’s stock valued at $16,347,000 after buying an additional 75,689 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Silicon Laboratories in the 4th quarter valued at about $14,071,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Silicon Laboratories in the 4th quarter valued at about $12,463,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Silicon Laboratories in the 4th quarter valued at about $10,981,000. Institutional investors own 99.40% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Cowen upped their price target on Silicon Laboratories from $170.00 to $175.00 in a research report on Thursday, July 28th. Stifel Nicolaus upped their price target on Silicon Laboratories from $200.00 to $210.00 in a research report on Wednesday, April 27th. Morgan Stanley upped their target price on Silicon Laboratories from $156.00 to $161.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Cowen upped their target price on Silicon Laboratories from $170.00 to $175.00 in a research report on Thursday, July 28th. Finally, Wells Fargo & Company cut their target price on Silicon Laboratories from $190.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, July 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $181.38.
Insider Transactions at Silicon Laboratories
Silicon Laboratories Stock Up 0.9 %
SLAB stock opened at $148.74 on Tuesday. The stock’s 50 day simple moving average is $139.24 and its 200 day simple moving average is $144.50. Silicon Laboratories Inc. has a fifty-two week low of $114.52 and a fifty-two week high of $211.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 7.05 and a current ratio of 7.37. The company has a market cap of $5.44 billion, a P/E ratio of 3.11 and a beta of 1.16.
Silicon Laboratories (NASDAQ:SLAB – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The semiconductor company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.26. Silicon Laboratories had a return on equity of 3.61% and a net margin of 239.09%. The business had revenue of $263.00 million for the quarter, compared to the consensus estimate of $250.46 million. During the same period in the prior year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 55.6% on a year-over-year basis. On average, research analysts expect that Silicon Laboratories Inc. will post 2.38 earnings per share for the current fiscal year.
Silicon Laboratories Company Profile
Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the Internet of Things (IoT), including connected home and security, industrial automation and control, smart metering, smart lighting, commercial building automation, consumer electronics, asset tracking, and medical instrumentation.
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