Pacer Advisors Inc. Has $1.79 Million Stock Holdings in Silicon Laboratories (NASDAQ:SLAB)

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Pacer Advisors Inc. lessened its holdings in shares of Silicon Laboratories (NASDAQ:SLAB) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,037 shares of the semiconductor company’s stock after selling 1,390 shares during the quarter. Pacer Advisors Inc.’s holdings in Silicon Laboratories were worth $1,786,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SLAB. Nuveen Asset Management LLC lifted its position in shares of Silicon Laboratories by 1,696.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 203,367 shares of the semiconductor company’s stock worth $21,028,000 after purchasing an additional 192,049 shares during the last quarter. Price Wealth Management Inc. lifted its position in shares of Silicon Laboratories by 709.2% during the 2nd quarter. Price Wealth Management Inc. now owns 114,100 shares of the semiconductor company’s stock worth $11,798,000 after purchasing an additional 100,000 shares during the last quarter. Castleark Management LLC acquired a new position in shares of Silicon Laboratories during the 2nd quarter worth about $8,659,000. Renaissance Technologies LLC acquired a new position in shares of Silicon Laboratories during the 2nd quarter worth about $7,005,000. Finally, Atria Investments LLC acquired a new position in Silicon Laboratories in the 2nd quarter valued at approximately $1,147,000. 93.18% of the stock is owned by institutional investors and hedge funds.

In other news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $103.35, for a total value of $103,350.00. Following the sale, the director now directly owns 38,791 shares in the company, valued at approximately $4,009,049.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO George Tyson Tuttle sold 36,813 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $112.86, for a total value of $4,154,715.18. Following the completion of the sale, the chief executive officer now owns 212,779 shares in the company, valued at $24,014,237.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,813 shares of company stock worth $5,472,005. Corporate insiders own 2.10% of the company’s stock.

SLAB has been the subject of several recent research reports. BidaskClub cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Wells Fargo & Co initiated coverage on Silicon Laboratories in a report on Tuesday, June 25th. They issued an “outperform” rating and a $125.00 price target for the company. Roth Capital upped their price target on Silicon Laboratories from $120.00 to $130.00 in a report on Thursday, July 25th. ValuEngine cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Benchmark initiated coverage on Silicon Laboratories in a report on Tuesday, July 23rd. They issued a “buy” rating and a $120.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $109.70.

Silicon Laboratories stock opened at $111.89 on Wednesday. The business has a 50 day moving average price of $110.36 and a two-hundred day moving average price of $102.45. The company has a quick ratio of 5.91, a current ratio of 6.47 and a debt-to-equity ratio of 0.34. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 3.32 and a beta of 1.52. Silicon Laboratories has a 12 month low of $73.13 and a 12 month high of $115.29.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Silicon Laboratories had a return on equity of 9.97% and a net margin of 3.84%. The company had revenue of $206.71 million for the quarter, compared to analyst estimates of $206.57 million. During the same period in the prior year, the company posted $0.92 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. On average, analysts expect that Silicon Laboratories will post 2.07 earnings per share for the current fiscal year.

Silicon Laboratories Profile

Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.

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Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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