Louisiana State Employees Retirement System trimmed its holdings in Silicon Laboratories (NASDAQ:SLAB) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,100 shares of the semiconductor company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Silicon Laboratories were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its stake in Silicon Laboratories by 866.0% in the first quarter. Quadrant Capital Group LLC now owns 995 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 892 shares during the last quarter. Advisor Group Inc. increased its position in shares of Silicon Laboratories by 13.9% in the fourth quarter. Advisor Group Inc. now owns 1,345 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 164 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in shares of Silicon Laboratories in the second quarter valued at about $165,000. FNY Investment Advisers LLC purchased a new position in shares of Silicon Laboratories in the first quarter valued at about $161,000. Finally, First Republic Investment Management Inc. purchased a new position in shares of Silicon Laboratories in the first quarter valued at about $206,000. 91.44% of the stock is owned by hedge funds and other institutional investors.
In related news, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $105.61, for a total transaction of $105,610.00. Following the completion of the transaction, the director now directly owns 39,791 shares of the company’s stock, valued at $4,202,327.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.
Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company had revenue of $206.71 million during the quarter, compared to analysts’ expectations of $206.57 million. Silicon Laboratories had a net margin of 3.84% and a return on equity of 9.97%. Silicon Laboratories’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the company posted $0.92 earnings per share. On average, research analysts expect that Silicon Laboratories will post 2.07 EPS for the current year.
Several brokerages recently issued reports on SLAB. Needham & Company LLC reiterated a “hold” rating on shares of Silicon Laboratories in a research report on Thursday, April 25th. Zacks Investment Research cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. MKM Partners boosted their price objective on shares of Silicon Laboratories to $105.00 in a research note on Thursday, April 25th. Cowen reissued an “outperform” rating and set a $130.00 price objective (up previously from $98.00) on shares of Silicon Laboratories in a research note on Thursday, April 25th. Finally, Benchmark assumed coverage on shares of Silicon Laboratories in a research note on Tuesday, July 23rd. They set a “buy” rating and a $120.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $109.70.
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, 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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