Stephens Investment Management Group LLC grew its stake in Silicon Laboratories (NASDAQ:SLAB) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,434 shares of the semiconductor company’s stock after purchasing an additional 3,064 shares during the quarter. Stephens Investment Management Group LLC owned approximately 1.04% of Silicon Laboratories worth $46,575,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of SLAB. Quadrant Capital Group LLC increased its position in Silicon Laboratories by 866.0% during the first quarter. Quadrant Capital Group LLC now owns 995 shares of the semiconductor company’s stock worth $79,000 after acquiring an additional 892 shares during the period. NN Investment Partners Holdings N.V. bought a new position in Silicon Laboratories during the second quarter worth about $165,000. FNY Investment Advisers LLC bought a new position in Silicon Laboratories during the first quarter worth about $161,000. World Asset Management Inc bought a new position in Silicon Laboratories during the second quarter worth about $210,000. Finally, Fox Run Management L.L.C. bought a new position in Silicon Laboratories during the second quarter worth about $245,000. 91.44% of the stock is currently owned by institutional investors.
In other news, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $103.35, for a total value of $103,350.00. Following the sale, the director now directly owns 38,791 shares in the company, valued at approximately $4,009,049.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Silicon Laboratories had a net margin of 3.84% and a return on equity of 9.97%. The company had revenue of $206.71 million for the quarter, compared to the consensus estimate of $206.57 million. During the same period last year, the company posted $0.92 EPS. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, analysts anticipate that Silicon Laboratories will post 2.07 earnings per share for the current year.
A number of research firms recently commented on SLAB. Cowen reaffirmed an “outperform” rating and set a $130.00 price target (up from $98.00) on shares of Silicon Laboratories in a research report on Thursday, April 25th. TheStreet lowered shares of Silicon Laboratories from a “b” rating to a “c+” rating in a report on Wednesday, July 24th. Zacks Investment Research lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. BidaskClub lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, Wells Fargo & Co began coverage on shares of Silicon Laboratories in a report on Tuesday, June 25th. They issued an “outperform” rating and a $125.00 target price on the stock. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $109.70.
Silicon Laboratories Company Profile
Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.
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