Verition Fund Management LLC Buys Shares of 7,501 Silicon Laboratories Inc. (NASDAQ:SLAB)

Verition Fund Management LLC bought a new stake in shares of Silicon Laboratories Inc. (NASDAQ:SLABGet Rating) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,501 shares of the semiconductor company’s stock, valued at approximately $1,127,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Elequin Capital LP purchased a new position in shares of Silicon Laboratories during the 1st quarter valued at $27,000. Rockefeller Capital Management L.P. grew its holdings in shares of Silicon Laboratories by 177.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 136 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 87 shares in the last quarter. Prestige Wealth Management Group LLC purchased a new position in shares of Silicon Laboratories during the 1st quarter valued at $30,000. Covestor Ltd purchased a new position in shares of Silicon Laboratories during the 4th quarter valued at $37,000. Finally, CWM LLC grew its holdings in shares of Silicon Laboratories by 115.7% during the 1st quarter. CWM LLC now owns 274 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 147 shares in the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on SLAB shares. Wells Fargo & Company lowered their price target on shares of Silicon Laboratories from $190.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, July 11th. Cowen upped their price objective on shares of Silicon Laboratories from $170.00 to $175.00 in a report on Thursday, July 28th. Summit Insights cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Cowen upped their price objective on shares of Silicon Laboratories from $170.00 to $175.00 in a report on Thursday, July 28th. Finally, Morgan Stanley upped 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Silicon Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $181.38.

Silicon Laboratories Stock Down 2.4 %

SLAB stock opened at $126.18 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 7.37 and a quick ratio of 7.05. Silicon Laboratories Inc. has a 52-week low of $113.47 and a 52-week high of $211.98. The company has a 50-day moving average of $136.02 and a two-hundred day moving average of $138.86. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 2.64 and a beta of 1.19.

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

Insider Buying and Selling at Silicon Laboratories

In other news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $146.70, for a total transaction of $146,700.00. Following the completion of the transaction, the director now owns 31,468 shares of the company’s stock, valued at $4,616,355.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $146.70, for a total transaction of $146,700.00. Following the completion of the transaction, the director now owns 31,468 shares of the company’s stock, valued at $4,616,355.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christy Wyatt sold 1,495 shares of the company’s 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 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. Corporate insiders own 1.61% of the company’s stock.

About Silicon Laboratories

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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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