Westfield Capital Management Co. LP Acquires 205,093 Shares of Silicon Laboratories, Inc. $SLAB

Westfield Capital Management Co. LP lifted its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 59.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 547,403 shares of the semiconductor company’s stock after purchasing an additional 205,093 shares during the period. Westfield Capital Management Co. LP owned about 1.67% of Silicon Laboratories worth $71,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. increased its stake in shares of Silicon Laboratories by 43.9% in the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 86 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Silicon Laboratories by 45.7% in the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 86 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Silicon Laboratories by 37.3% in the fourth quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 135 shares in the last quarter. Van Berkom & Associates Inc. increased its stake in shares of Silicon Laboratories by 1.4% in the fourth quarter. Van Berkom & Associates Inc. now owns 10,013 shares of the semiconductor company’s stock worth $1,309,000 after purchasing an additional 140 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Silicon Laboratories by 3.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,284 shares of the semiconductor company’s stock worth $560,000 after purchasing an additional 142 shares in the last quarter.

Silicon Laboratories Price Performance

Shares of SLAB opened at $218.11 on Friday. Silicon Laboratories, Inc. has a 1-year low of $115.50 and a 1-year high of $219.68. The company has a 50-day moving average of $214.50 and a 200 day moving average of $181.16. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of -142.56 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The company had revenue of $213.50 million during the quarter, compared to analyst estimates of $214.02 million. During the same quarter last year, the business posted ($0.08) EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, equities analysts anticipate that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $216.83, for a total value of $1,739,843.92. Following the transaction, the chief executive officer owned 80,519 shares of the company’s stock, valued at $17,458,934.77. The trade was a 9.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

SLAB has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. Citigroup lifted their price objective on shares of Silicon Laboratories from $135.00 to $231.00 and gave the company a “neutral” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $171.43.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.