Sterling Capital Management LLC raised its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 74.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,850 shares of the semiconductor company’s stock after acquiring an additional 13,598 shares during the period. Sterling Capital Management LLC owned approximately 0.07% of Silicon Laboratories worth $2,545,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in SLAB. Quantbot Technologies LP bought a new stake in shares of Silicon Laboratories in the second quarter valued at about $102,000. Advisors Asset Management Inc. lifted its stake in shares of Silicon Laboratories by 75.1% in the third quarter. Advisors Asset Management Inc. now owns 1,292 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 554 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Silicon Laboratories by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,623 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 148 shares during the period. Riverhead Capital Management LLC lifted its stake in shares of Silicon Laboratories by 76.7% in the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock valued at $157,000 after buying an additional 997 shares during the period. Finally, BT Investment Management Ltd bought a new stake in shares of Silicon Laboratories in the second quarter valued at about $202,000. Institutional investors own 90.81% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Stifel Nicolaus increased their target price on shares of Silicon Laboratories from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, October 12th. Needham & Company LLC increased their price target on shares of Silicon Laboratories from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Roth Capital increased their price target on shares of Silicon Laboratories from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Barclays reissued a “neutral” rating on shares of Silicon Laboratories in a research report on Friday, October 27th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $99.44.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.09. Silicon Laboratories had a net margin of 9.60% and a return on equity of 11.06%. The firm had revenue of $198.70 million during the quarter, compared to analyst estimates of $196.20 million. During the same quarter in the prior year, the business posted $0.77 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. analysts expect that Silicon Laboratories, Inc. will post 2.27 EPS for the current fiscal year.
In other news, CFO John C. Hollister sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $88.45, for a total transaction of $176,900.00. Following the completion of the sale, the chief financial officer now owns 64,767 shares of the company’s stock, valued at $5,728,641.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO George Tyson Tuttle sold 13,594 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $80.07, for a total transaction of $1,088,471.58. Following the sale, the chief executive officer now directly owns 183,592 shares of the company’s stock, valued at approximately $14,700,211.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,987 shares of company stock valued at $3,448,889. Company insiders own 34.82% of the company’s stock.
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Silicon Laboratories 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.
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