California Public Employees Retirement System reduced its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 6.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,000 shares of the company’s stock after selling 5,100 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Silicon Laboratories worth $4,410,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of SLAB. BlackRock Group LTD boosted its stake 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 valued at $1,212,000 after buying an additional 6,297 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Silicon Laboratories during the second quarter valued at approximately $1,857,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Silicon Laboratories by 0.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,823 shares of the company’s stock valued at $1,356,000 after buying an additional 85 shares during the period. Retirement Systems of Alabama boosted its stake 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 valued at $17,307,000 after buying an additional 15,255 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Silicon Laboratories during the first quarter valued at approximately $298,000. 89.83% of the stock is owned by institutional investors and hedge funds.
Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) traded up 0.22% during midday trading on Friday, hitting $67.55. The company had a trading volume of 104,347 shares. The firm has a market capitalization of $2820.08 billion, a P/E ratio of 60.31 and a beta of 1.16. Silicon Laboratories Inc. has a 12-month low of $36.56 and a 12-month high of $67.60. The firm’s 50-day moving average is $61.27 and its 200-day moving average is $54.48.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $178.10 million for the quarter, compared to analysts’ expectations of $73.81 million. Silicon Laboratories had a return on equity of 9.80% and a net margin of 6.97%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. On average, analysts predict that Silicon Laboratories Inc. will post $2.68 earnings per share for the current fiscal year.
Several equities research analysts have commented on the stock. B. Riley reiterated a “buy” rating and issued a $72.00 price target on shares of Silicon Laboratories in a research report on Tuesday, November 1st. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Tuesday, November 1st. MKM Partners upgraded Silicon Laboratories from a “neutral” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Thursday, October 27th. Drexel Hamilton boosted their price objective on Silicon Laboratories from $62.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Silicon Laboratories in a report on Wednesday, October 5th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $63.00.
In other Silicon Laboratories news, CEO George Tyson Tuttle sold 5,761 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $54.67, for a total value of $314,953.87. Following the transaction, the chief executive officer now owns 253,486 shares of the company’s stock, valued at $13,858,079.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Bock sold 3,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $64.05, for a total value of $192,150.00. Following the completion of the transaction, the director now directly owns 51,224 shares in the company, valued at approximately $3,280,897.20. The disclosure for this sale can be found here. 2.75% of the stock is 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.