Meadow Creek Investment Management LLC raised its position in Silicon Laboratories (NASDAQ:SLAB) by 10.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,766 shares of the semiconductor company’s stock after acquiring an additional 646 shares during the period. Meadow Creek Investment Management LLC’s holdings in Silicon Laboratories were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. OLD National Bancorp IN bought a new stake in shares of Silicon Laboratories in the second quarter valued at $210,000. World Asset Management Inc bought a new stake in shares of Silicon Laboratories in the second quarter valued at $212,000. Wrapmanager Inc. bought a new stake in shares of Silicon Laboratories in the second quarter valued at $212,000. Lido Advisors LLC bought a new stake in shares of Silicon Laboratories in the first quarter valued at $207,000. Finally, Zeke Capital Advisors LLC purchased a new position in shares of Silicon Laboratories in the first quarter valued at $238,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.
In related news, Director Jack R. Lazar sold 4,750 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $108.23, for a total transaction of $514,092.50. Following the completion of the transaction, the director now directly owns 13,101 shares in the company, valued at $1,417,921.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $94.50, for a total value of $94,500.00. Following the transaction, the director now owns 40,751 shares of the company’s stock, valued at $3,850,969.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,119 shares of company stock valued at $2,334,169. 1.96% of the stock is owned by company insiders.
Shares of NASDAQ SLAB opened at $95.25 on Friday. The firm has a market capitalization of $4.13 billion, a PE ratio of 35.95, a P/E/G ratio of 2.29 and a beta of 1.51. Silicon Laboratories has a fifty-two week low of $72.90 and a fifty-two week high of $110.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.58 and a quick ratio of 4.95.
Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, July 25th. The semiconductor company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. Silicon Laboratories had a return on equity of 11.90% and a net margin of 6.78%. The company had revenue of $217.10 million during the quarter, compared to analysts’ expectations of $214.24 million. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. equities research analysts predict that Silicon Laboratories will post 2.78 earnings per share for the current year.
Several brokerages have recently weighed in on SLAB. Zacks Investment Research cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. BidaskClub cut Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday. B. Riley lifted their price target on Silicon Laboratories to $123.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Stifel Nicolaus lifted their price target on Silicon Laboratories from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, June 15th. Finally, Cowen began coverage on Silicon Laboratories in a research report on Thursday, May 17th. They issued an “outperform” rating and a $125.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Silicon Laboratories currently has an average rating of “Buy” and a consensus price target of $112.73.
About Silicon Laboratories
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, such as 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, including 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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