First Trust Advisors LP lowered its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 86.6% during the second quarter, Holdings Channel reports. The institutional investor owned 5,614 shares of the company’s stock after selling 36,225 shares during the period. First Trust Advisors LP’s holdings in Silicon Laboratories were worth $274,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in SLAB. Prudential Financial Inc. increased its position in shares of Silicon Laboratories by 32.4% in the first quarter. Prudential Financial Inc. now owns 72,363 shares of the company’s stock worth $3,253,000 after buying an additional 17,700 shares in the last quarter. BlackRock Group LTD increased its position in shares of Silicon Laboratories by 30.4% in the first quarter. BlackRock Group LTD now owns 26,985 shares of the company’s stock worth $1,212,000 after buying an additional 6,297 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Silicon Laboratories during the second quarter worth $1,857,000. Boothbay Fund Management LLC acquired a new position in shares of Silicon Laboratories during the first quarter worth $298,000. Finally, Retirement Systems of Alabama increased its position in shares of Silicon Laboratories by 4.5% in the second quarter. Retirement Systems of Alabama now owns 355,086 shares of the company’s stock worth $17,307,000 after buying an additional 15,255 shares in the last quarter. 87.46% of the stock is owned by institutional investors and hedge funds.
Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) traded up 0.40% during mid-day trading on Monday, hitting $57.15. 11,143 shares of the stock traded hands. The firm has a 50 day moving average of $57.12 and a 200 day moving average of $51.03. Silicon Laboratories Inc. has a 12 month low of $36.56 and a 12 month high of $60.06. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 64.94 and a beta of 1.42.
Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.11. The business had revenue of $174.90 million for the quarter, compared to analyst estimates of $170.52 million. Silicon Laboratories had a return on equity of 8.71% and a net margin of 5.66%. Silicon Laboratories’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 EPS. On average, equities analysts expect that Silicon Laboratories Inc. will post $2.54 EPS for the current fiscal year.
A number of equities research analysts have recently commented on SLAB shares. Roth Capital started coverage on shares of Silicon Laboratories in a report on Wednesday, September 28th. They set a “buy” rating and a $65.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 price target (up previously from $65.00) on shares of Silicon Laboratories in a report on Friday, August 26th. TheStreet upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Zacks Investment Research cut shares of Silicon Laboratories from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Silicon Laboratories in a report on Wednesday, October 5th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Silicon Laboratories presently has a consensus rating of “Buy” and an average price target of $57.91.
In other Silicon Laboratories news, Director William G. Bock sold 3,000 shares of Silicon Laboratories stock in a transaction on 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 transaction, the director now owns 54,224 shares in the company, valued at approximately $2,936,771.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO George Tyson Tuttle sold 5,761 shares of Silicon Laboratories stock in a transaction on Monday, September 12th. The shares were sold at an average price of $54.67, for a total value of $314,953.87. Following the completion of the transaction, the chief executive officer now owns 253,486 shares of the company’s stock, valued at approximately $13,858,079.62. The disclosure for this sale can be found here. 2.75% of the stock is owned by corporate 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.
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