Sterling Capital Management LLC Has $1.94 Million Position in Silicon Laboratories (SLAB)

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Sterling Capital Management LLC reduced its stake in shares of Silicon Laboratories (NASDAQ:SLAB) by 38.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,463 shares of the semiconductor company’s stock after selling 12,387 shares during the quarter. Sterling Capital Management LLC’s holdings in Silicon Laboratories were worth $1,939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SLAB. Lido Advisors LLC purchased a new stake in shares of Silicon Laboratories during the 1st quarter worth $207,000. OLD National Bancorp IN purchased a new stake in shares of Silicon Laboratories during the 2nd quarter worth $210,000. World Asset Management Inc purchased a new stake in shares of Silicon Laboratories during the 2nd quarter worth $212,000. Wrapmanager Inc. purchased a new stake in shares of Silicon Laboratories during the 2nd quarter worth $212,000. Finally, LPL Financial LLC purchased a new stake in shares of Silicon Laboratories during the 1st quarter worth $269,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.

In other news, SVP Alessandro Piovaccari sold 1,910 shares of the firm’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $104.24, for a total value of $199,098.40. Following the completion of the transaction, the senior vice president now directly owns 32,681 shares in the company, valued at $3,406,667.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William P. Wood sold 5,442 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $98.33, for a total value of $535,111.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,459 shares of company stock valued at $1,506,152. Company insiders own 1.96% of the company’s stock.

A number of equities research analysts have commented on SLAB shares. BidaskClub cut Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, September 8th. Zacks Investment Research cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Loop Capital decreased their price target on Silicon Laboratories to $110.00 and set a “hold” rating for the company in a research note on Thursday, July 26th. B. Riley increased their price target on Silicon Laboratories to $123.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Finally, Stifel Nicolaus increased their price target on Silicon Laboratories from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, June 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $112.73.

Silicon Laboratories stock opened at $94.65 on Friday. 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 has a one year low of $74.05 and a one year high of $110.70. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 34.91, a price-to-earnings-growth ratio of 2.22 and a beta of 1.51.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, July 25th. The semiconductor company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $0.79 earnings per share. The firm’s revenue was up 14.2% compared to the same quarter last year. equities analysts predict that Silicon Laboratories will post 2.78 earnings per share for the current year.

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

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