Silicon Laboratories Inc. (NASDAQ:SLAB) Position Boosted by Red Spruce Capital LLC

Red Spruce Capital LLC boosted its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,519 shares of the semiconductor company’s stock after buying an additional 132 shares during the quarter. Red Spruce Capital LLC’s holdings in Silicon Laboratories were worth $1,975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Silicon Laboratories during the fourth quarter worth $34,161,000. Renaissance Technologies LLC raised its stake in Silicon Laboratories by 338.0% during the first quarter. Renaissance Technologies LLC now owns 232,998 shares of the semiconductor company’s stock worth $34,996,000 after acquiring an additional 179,800 shares during the period. Ieq Capital LLC lifted its holdings in Silicon Laboratories by 955.6% in the first quarter. Ieq Capital LLC now owns 156,175 shares of the semiconductor company’s stock worth $27,345,000 after acquiring an additional 141,380 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Silicon Laboratories by 601.7% in the first quarter. Cubist Systematic Strategies LLC now owns 154,600 shares of the semiconductor company’s stock valued at $27,069,000 after acquiring an additional 132,567 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Silicon Laboratories by 210.2% in the first quarter. Envestnet Asset Management Inc. now owns 177,466 shares of the semiconductor company’s stock valued at $10,503,000 after acquiring an additional 120,258 shares during the period.

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 3,498 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $144.06, for a total value of $503,921.88. Following the completion of the sale, the chief executive officer now owns 38,263 shares of the company’s stock, valued at $5,512,167.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.96% of the stock is owned by corporate insiders.

Silicon Laboratories Price Performance

Shares of SLAB traded up $0.66 during trading hours on Thursday, hitting $122.26. 50,492 shares of the company were exchanged, compared to its average volume of 462,534. The firm has a fifty day simple moving average of $142.34 and a 200-day simple moving average of $152.20. The company has a market capitalization of $3.90 billion, a PE ratio of 57.90 and a beta of 1.11. Silicon Laboratories Inc. has a one year low of $109.44 and a one year high of $194.68.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.06). The company had revenue of $244.87 million for the quarter, compared to analyst estimates of $243.32 million. Silicon Laboratories had a return on equity of 7.36% and a net margin of 7.00%. Sell-side analysts expect that Silicon Laboratories Inc. will post 1.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com started coverage on Silicon Laboratories in a report on Thursday, August 17th. They issued a “hold” rating on the stock. KeyCorp cut their target price on Silicon Laboratories from $200.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, July 27th. Citigroup lowered their price target on shares of Silicon Laboratories from $165.00 to $148.00 and set a “neutral” rating for the company in a research report on Friday, July 28th. Finally, Raymond James initiated coverage on shares of Silicon Laboratories in a report on Friday, July 7th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $167.50.

About Silicon Laboratories

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, 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.