Arizona State Retirement System Decreases Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Arizona State Retirement System reduced its position in Silicon Laboratories Inc. (NASDAQ:SLABGet Rating) by 9.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,863 shares of the semiconductor company’s stock after selling 1,185 shares during the period. Arizona State Retirement System’s holdings in Silicon Laboratories were worth $1,632,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Silicon Laboratories by 158.5% in the first quarter. Signaturefd LLC now owns 336 shares of the semiconductor company’s stock worth $50,000 after buying an additional 206 shares in the last quarter. Park Avenue Securities LLC increased its stake in Silicon Laboratories by 15.0% during the first quarter. Park Avenue Securities LLC now owns 4,452 shares of the semiconductor company’s stock worth $669,000 after acquiring an additional 580 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Silicon Laboratories by 45.8% during the first quarter. Daiwa Securities Group Inc. now owns 656 shares of the semiconductor company’s stock worth $99,000 after acquiring an additional 206 shares during the last quarter. New York State Teachers Retirement System increased its stake in Silicon Laboratories by 1.0% during the first quarter. New York State Teachers Retirement System now owns 65,981 shares of the semiconductor company’s stock worth $9,910,000 after acquiring an additional 677 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Silicon Laboratories by 10.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 22,142 shares of the semiconductor company’s stock worth $3,326,000 after acquiring an additional 2,142 shares during the last quarter. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

Silicon Laboratories Stock Down 0.1 %

Shares of NASDAQ:SLAB opened at $147.48 on Monday. Silicon Laboratories Inc. has a 52-week low of $114.52 and a 52-week high of $211.98. The stock has a market cap of $5.39 billion, a P/E ratio of 3.09 and a beta of 1.20. The business’s 50 day moving average is $139.05 and its 200 day moving average is $145.06. The company has a quick ratio of 8.40, a current ratio of 8.62 and a debt-to-equity ratio of 0.26.

Silicon Laboratories (NASDAQ:SLABGet Rating) last posted its 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 4.08% and a net margin of 266.91%. The company had revenue of $263.00 million during the quarter, compared to analyst estimates of $250.46 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. Silicon Laboratories’s revenue was up 55.6% on a year-over-year basis. Sell-side analysts predict that Silicon Laboratories Inc. will post 2.38 EPS for the current year.

Insider Activity

In other news, Director William G. Bock sold 1,000 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $141.45, for a total transaction of $141,450.00. Following the completion of the sale, the director now owns 32,468 shares in the company, valued at approximately $4,592,598.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $141.45, for a total value of $141,450.00. Following the transaction, the director now directly owns 32,468 shares of the company’s stock, valued at approximately $4,592,598.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert Matthew Johnson sold 5,435 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $149.38, for a total value of $811,880.30. Following the completion of the transaction, the chief executive officer now directly owns 26,873 shares in the company, valued at $4,014,288.74. The disclosure for this sale can be found here. Company insiders own 1.61% of the company’s stock.

Wall Street Analysts Forecast Growth

SLAB has been the topic of several analyst reports. Stifel Nicolaus boosted their price objective on Silicon Laboratories from $200.00 to $210.00 in a research note on Wednesday, April 27th. Cowen upped their target price on Silicon Laboratories from $170.00 to $175.00 in a research note on Thursday. Summit Insights cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday. Cowen upped their target price on Silicon Laboratories from $170.00 to $175.00 in a research note on Thursday. Finally, Needham & Company LLC upped their target price on Silicon Laboratories from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.38.

Silicon Laboratories Company 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.

See Also

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

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