Macquarie Group Ltd. Boosts Stake in Silicon Laboratories, Inc. (SLAB)

Macquarie Group Ltd. increased its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 17.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 356,174 shares of the semiconductor company’s stock after acquiring an additional 51,633 shares during the period. Macquarie Group Ltd. owned about 0.84% of Silicon Laboratories worth $24,344,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Silicon Laboratories by 25,072.0% during the 1st quarter. BlackRock Inc. now owns 4,558,402 shares of the semiconductor company’s stock valued at $335,271,000 after acquiring an additional 4,540,293 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Silicon Laboratories by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,446,677 shares of the semiconductor company’s stock valued at $235,581,000 after acquiring an additional 154,654 shares in the last quarter. State Street Corp boosted its position in shares of Silicon Laboratories by 4.1% during the 1st quarter. State Street Corp now owns 1,446,066 shares of the semiconductor company’s stock valued at $106,361,000 after acquiring an additional 56,814 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Silicon Laboratories by 62.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock valued at $57,523,000 after acquiring an additional 323,123 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its position in shares of Silicon Laboratories by 0.4% during the 2nd quarter. Van Berkom & Associates Inc. now owns 795,541 shares of the semiconductor company’s stock valued at $54,375,000 after acquiring an additional 3,090 shares in the last quarter. Institutional investors and hedge funds own 88.99% of the company’s stock.

Silicon Laboratories, Inc. (NASDAQ SLAB) opened at 84.35 on Wednesday. The firm has a 50-day moving average of $78.10 and a 200-day moving average of $73.85. Silicon Laboratories, Inc. has a 52-week low of $55.97 and a 52-week high of $84.95. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 50.30 and a beta of 1.28.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.08. Silicon Laboratories had a net margin of 9.88% and a return on equity of 11.15%. The company had revenue of $190.10 million for the quarter, compared to the consensus estimate of $186.46 million. During the same period last year, the company posted $0.75 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Silicon Laboratories, Inc. will post $3.06 EPS for the current fiscal year.

In other news, Director William P. Wood sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $76.35, for a total value of $381,750.00. Following the sale, the director now directly owns 30,526 shares in the company, valued at approximately $2,330,660.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO George Tyson Tuttle sold 13,594 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $80.07, for a total transaction of $1,088,471.58. Following the completion of the sale, the chief executive officer now owns 183,592 shares in the company, valued at $14,700,211.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,500 shares of company stock worth $3,800,679. 34.82% of the stock is currently owned by corporate insiders.

SLAB has been the topic of several recent research reports. BidaskClub upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Thursday, August 3rd. B. Riley reiterated a “buy” rating and set a $90.00 target price on shares of Silicon Laboratories in a research report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $85.00 target price (up from $82.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $85.00 target price (up from $80.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $83.78.

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Silicon Laboratories Company Profile

Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.

Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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