Victory Capital Management Inc. lowered its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB – Get Rating) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,618 shares of the semiconductor company’s stock after selling 44,309 shares during the quarter. Victory Capital Management Inc. owned 0.71% of Silicon Laboratories worth $39,026,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of SLAB. Alliancebernstein L.P. raised its position in Silicon Laboratories by 40.9% in the 4th quarter. Alliancebernstein L.P. now owns 891,278 shares of the semiconductor company’s stock valued at $183,978,000 after buying an additional 258,534 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Silicon Laboratories by 3.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 562,433 shares of the semiconductor company’s stock valued at $116,099,000 after buying an additional 18,437 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Silicon Laboratories by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 508,894 shares of the semiconductor company’s stock valued at $105,044,000 after buying an additional 14,494 shares during the last quarter. Nuveen Asset Management LLC raised its position in Silicon Laboratories by 6.8% in the 4th quarter. Nuveen Asset Management LLC now owns 381,811 shares of the semiconductor company’s stock valued at $78,813,000 after buying an additional 24,229 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Silicon Laboratories by 11.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 149,379 shares of the semiconductor company’s stock valued at $30,835,000 after buying an additional 15,545 shares during the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. Summit Insights lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Needham & Company LLC lifted their target price on Silicon Laboratories from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Wells Fargo & Company decreased their price target on Silicon Laboratories from $190.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, July 11th. Morgan Stanley raised their price target on Silicon Laboratories from $156.00 to $161.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Finally, Stifel Nicolaus raised their price target on Silicon Laboratories from $200.00 to $210.00 in a research note on Wednesday, April 27th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $181.38.
Insider Transactions at Silicon Laboratories
Silicon Laboratories Stock Performance
Shares of NASDAQ SLAB opened at $148.74 on Tuesday. 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 12 month low of $114.52 and a 12 month high of $211.98. The stock has a 50 day moving average of $139.24 and a 200-day moving average of $144.50. The company has a market capitalization of $5.44 billion, a P/E ratio of 3.11 and a beta of 1.16.
Silicon Laboratories (NASDAQ:SLAB – Get Rating) last issued its earnings results on Wednesday, July 27th. The semiconductor company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.91 by $0.26. Silicon Laboratories had a return on equity of 3.61% and a net margin of 239.09%. The company had revenue of $263.00 million during the quarter, compared to the consensus estimate of $250.46 million. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 55.6% compared to the same quarter last year. As a group, equities research analysts predict that Silicon Laboratories Inc. will post 2.38 EPS for the current year.
About Silicon Laboratories
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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