Oregon Public Employees Retirement Fund decreased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB – Get Rating) by 9.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,995 shares of the semiconductor company’s stock after selling 1,013 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Silicon Laboratories were worth $1,234,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in shares of Silicon Laboratories in the second quarter valued at $25,000. Meeder Asset Management Inc. grew its position in shares of Silicon Laboratories by 94.5% in the second quarter. Meeder Asset Management Inc. now owns 282 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 137 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Silicon Laboratories in the third quarter valued at $58,000. CWM LLC grew its position in shares of Silicon Laboratories by 58.0% in the second quarter. CWM LLC now owns 433 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 159 shares during the period. Finally, Covestor Ltd grew its position in shares of Silicon Laboratories by 214.8% in the first quarter. Covestor Ltd now owns 554 shares of the semiconductor company’s stock valued at $83,000 after purchasing an additional 378 shares during the period. Hedge funds and other institutional investors own 99.56% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Silicon Laboratories from $161.00 to $151.00 and set an “equal weight” rating for the company in a research report on Thursday, October 27th. Cowen boosted their price objective on Silicon Laboratories from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, December 7th. Barclays lowered their price objective on Silicon Laboratories from $95.00 to $85.00 in a report on Thursday, October 27th. Needham & Company LLC lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, October 27th. Finally, StockNews.com started coverage on Silicon Laboratories in a report on Wednesday, October 12th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $156.38.
Silicon Laboratories Stock Up 3.1 %
Silicon Laboratories (NASDAQ:SLAB – Get Rating) last issued its quarterly earnings data on Wednesday, October 26th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. Silicon Laboratories had a return on equity of 5.70% and a net margin of 6.45%. The business had revenue of $269.82 million during the quarter, compared to analyst estimates of $270.17 million. Analysts predict that Silicon Laboratories Inc. will post 3.21 EPS for the current year.
Insider Buying and Selling
In related news, Director Nina Richardson sold 1,351 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $145.00, for a total value of $195,895.00. Following the completion of the transaction, the director now directly owns 6,820 shares of the company’s stock, valued at approximately $988,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.61% of the company’s stock.
About Silicon Laboratories
Silicon Laboratories, Inc designs and develops analog-intensive and mixed-signal integrated circuits. The firm offers microcontrollers, wireless, sensors, USB bridges, analog, clocks and oscillators, isolators, power, audio and radio, modems and TV and video product categories. It provides solutions for automotive, communications, data centers, healthcare & fitness, home automation & entertainment, industrial automation & power and retail industries.
- Get a free copy of the StockNews.com research report on Silicon Laboratories (SLAB)
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