First Mercantile Trust Co. raised its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 16.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,618 shares of the company’s stock after buying an additional 648 shares during the period. First Mercantile Trust Co.’s holdings in Silicon Laboratories were worth $225,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Acrospire Investment Management LLC boosted its position in Silicon Laboratories by 317.5% in the second quarter. Acrospire Investment Management LLC now owns 2,104 shares of the company’s stock worth $103,000 after buying an additional 1,600 shares during the last quarter. LS Investment Advisors LLC raised its stake in Silicon Laboratories by 74.3% in the second quarter. LS Investment Advisors LLC now owns 2,336 shares of the company’s stock worth $114,000 after buying an additional 996 shares during the last quarter. Bank of Montreal Can bought a new stake in Silicon Laboratories during the second quarter worth approximately $132,000. Westpac Banking Corp raised its stake in Silicon Laboratories by 11.1% in the second quarter. Westpac Banking Corp now owns 5,659 shares of the company’s stock worth $205,000 after buying an additional 567 shares during the last quarter. Finally, Bayesian Capital Management LP raised its stake in Silicon Laboratories by 3.2% in the first quarter. Bayesian Capital Management LP now owns 5,744 shares of the company’s stock worth $258,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 87.46% of the company’s stock.
Silicon Laboratories Inc. (NASDAQ:SLAB) opened at 58.65 on Tuesday. Silicon Laboratories Inc. has a 1-year low of $36.56 and a 1-year high of $59.35. The stock has a 50 day moving average price of $56.21 and a 200 day moving average price of $50.26. The stock has a market cap of $2.44 billion, a PE ratio of 66.65 and a beta of 1.42.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.11. The firm earned $174.90 million during the quarter, compared to analysts’ expectations of $170.52 million. Silicon Laboratories had a return on equity of 8.71% and a net margin of 5.66%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. On average, analysts predict that Silicon Laboratories Inc. will post $2.53 EPS for the current fiscal year.
Several research analysts have recently weighed in on SLAB shares. Roth Capital began coverage on Silicon Laboratories in a research note on Wednesday, September 28th. They set a “buy” rating and a $65.00 price target for the company. Zacks Investment Research cut Silicon Laboratories from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 price target (up previously from $65.00) on shares of Silicon Laboratories in a report on Friday, August 26th. B. Riley reaffirmed a “buy” rating and issued a $64.00 price target on shares of Silicon Laboratories in a report on Monday, August 1st. Finally, TheStreet raised Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Silicon Laboratories currently has a consensus rating of “Buy” and an average target price of $57.91.
In related news, Director Navdeep S. Sooch sold 100,000 shares of Silicon Laboratories stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $57.20, for a total value of $5,720,000.00. Following the sale, the director now directly owns 574,756 shares in the company, valued at approximately $32,876,043.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William G. Bock sold 3,000 shares of Silicon Laboratories stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $54.16, for a total value of $162,480.00. Following the completion of the sale, the director now owns 54,224 shares in the company, valued at $2,936,771.84. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.
Silicon Laboratories Company Profile
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of things (IoT), Internet infrastructure, industrial control, consumer and automotive markets. The Company provides customers with advantages in performance, energy savings, connectivity and design simplicity. It provides developers with the tools and technologies they need to advance from initial idea to final product.
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