Papp L Roy & Associates held its position in Silicon Laboratories Inc. (NASDAQ:SLAB) during the second quarter, Holdings Channel reports. The institutional investor owned 11,292 shares of the company’s stock at the end of the second quarter. Papp L Roy & Associates’ holdings in Silicon Laboratories were worth $550,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. 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 valued at $114,000 after buying an additional 996 shares during the last quarter. Bank of Montreal Can acquired a new stake in Silicon Laboratories during the second quarter valued at about $132,000. 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 valued at $258,000 after buying an additional 178 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in Silicon Laboratories during the first quarter valued at about $298,000. Finally, BlackRock Inc. raised its stake in Silicon Laboratories by 8.6% in the first quarter. BlackRock Inc. now owns 15,225 shares of the company’s stock valued at $684,000 after buying an additional 1,200 shares during the last quarter. 87.46% of the stock is currently owned by institutional investors.
Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) traded down 0.10% on Tuesday, reaching $58.59. 116,296 shares of the company’s stock traded hands. The firm has a market capitalization of $2.44 billion, a P/E ratio of 66.58 and a beta of 1.42. Silicon Laboratories Inc. has a 52 week low of $36.56 and a 52 week high of $59.35. The company’s 50-day moving average is $56.21 and its 200-day moving average is $50.26.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.64 by $0.11. The business earned $174.90 million during the quarter, compared to analysts’ expectations of $170.52 million. Silicon Laboratories had a net margin of 5.66% and a return on equity of 8.71%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. Equities research analysts anticipate that Silicon Laboratories Inc. will post $2.53 earnings per share for the current fiscal year.
Several research firms have recently issued reports on SLAB. B. Riley reissued a “buy” rating and issued a $64.00 price objective on shares of Silicon Laboratories in a research report on Monday, August 1st. Zacks Investment Research raised shares of Silicon Laboratories from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research report on Tuesday, August 2nd. TheStreet raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Silicon Laboratories in a report on Wednesday, July 27th. Finally, Citigroup Inc. raised their price target on shares of Silicon Laboratories from $56.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $57.91.
In other Silicon Laboratories news, Director Jack R. Lazar sold 4,000 shares of Silicon Laboratories stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $55.92, for a total value of $223,680.00. Following the completion of the sale, the director now directly owns 17,324 shares in the company, valued at $968,758.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Navdeep S. Sooch sold 50,000 shares of Silicon Laboratories stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $59.05, for a total transaction of $2,952,500.00. Following the completion of the sale, the director now owns 524,756 shares of the company’s stock, valued at $30,986,841.80. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by company insiders.
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.
Want to see what other hedge funds are holding SLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Laboratories Inc. (NASDAQ:SLAB).
Receive News & Ratings for Silicon Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.