Verition Fund Management LLC Makes New Investment in Silicon Laboratories Inc. (NASDAQ:SLAB)

Verition Fund Management LLC bought a new position in Silicon Laboratories Inc. (NASDAQ:SLABGet Rating) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,501 shares of the semiconductor company’s stock, valued at approximately $1,127,000.

Several other hedge funds also recently bought and sold shares of the company. Neuberger Berman Group LLC raised its holdings in Silicon Laboratories by 866.8% in the first quarter. Neuberger Berman Group LLC now owns 34,949 shares of the semiconductor company’s stock worth $5,250,000 after purchasing an additional 31,334 shares during the period. Advisors Asset Management Inc. raised its holdings in Silicon Laboratories by 27.8% in the first quarter. Advisors Asset Management Inc. now owns 1,390 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 302 shares during the period. Quantbot Technologies LP acquired a new stake in Silicon Laboratories in the first quarter worth $640,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Silicon Laboratories during the first quarter worth $1,454,000. Finally, Eaton Vance Management raised its holdings in shares of Silicon Laboratories by 6.7% during the first quarter. Eaton Vance Management now owns 249,899 shares of the semiconductor company’s stock worth $37,534,000 after acquiring an additional 15,638 shares during the period. 99.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SLAB. Cowen raised their price objective on shares of Silicon Laboratories from $170.00 to $175.00 in a report on Thursday, July 28th. Cowen raised their price objective on shares of Silicon Laboratories from $170.00 to $175.00 in a report on Thursday, July 28th. Needham & Company LLC raised their price objective on shares of Silicon Laboratories from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Morgan Stanley raised their price objective on shares of Silicon Laboratories from $156.00 to $161.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Finally, Summit Insights lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.38.

Silicon Laboratories Stock Down 2.4 %

Shares of SLAB stock opened at $126.18 on Wednesday. The company has a current ratio of 7.37, a quick ratio of 7.05 and a debt-to-equity ratio of 0.33. Silicon Laboratories Inc. has a 1 year low of $113.47 and a 1 year high of $211.98. The firm’s fifty day moving average price is $136.02 and its two-hundred day moving average price is $138.86. The firm has a market capitalization of $4.32 billion, a P/E ratio of 2.64 and a beta of 1.19.

Silicon Laboratories (NASDAQ:SLABGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The semiconductor company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.26. Silicon Laboratories had a net margin of 239.09% and a return on equity of 3.61%. The firm had revenue of $263.00 million for the quarter, compared to analyst estimates of $250.46 million. During the same period in the previous year, the business earned $0.81 EPS. The company’s revenue was up 55.6% compared to the same quarter last year. On average, equities analysts predict that Silicon Laboratories Inc. will post 3.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Christy Wyatt sold 1,495 shares of Silicon Laboratories stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $134.44, for a total value of $200,987.80. Following the completion of the transaction, the director now owns 5,222 shares of the company’s stock, valued at approximately $702,045.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $146.70, for a total value of $146,700.00. Following the completion of the transaction, the director now owns 31,468 shares of the company’s stock, valued at approximately $4,616,355.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christy Wyatt sold 1,495 shares of Silicon Laboratories stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $134.44, for a total transaction of $200,987.80. Following the completion of the transaction, the director now directly owns 5,222 shares of the company’s stock, valued at approximately $702,045.68. The disclosure for this sale can be found here. Insiders own 1.61% of the company’s stock.

Silicon Laboratories Profile

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

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