New York State Teachers Retirement System held its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,144 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Silicon Laboratories were worth $3,273,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. LS Investment Advisors LLC boosted its stake in shares of Silicon Laboratories by 74.3% in the second quarter. LS Investment Advisors LLC now owns 2,336 shares of the company’s stock worth $114,000 after buying an additional 996 shares during the period. Bayesian Capital Management LP boosted its stake in shares of Silicon Laboratories by 3.2% in the first quarter. Bayesian Capital Management LP now owns 5,744 shares of the company’s stock worth $258,000 after buying an additional 178 shares during the period. Boothbay Fund Management LLC bought a new stake in shares of Silicon Laboratories during the first quarter worth $298,000. BlackRock Inc. boosted its stake in shares of Silicon Laboratories by 8.6% in the first quarter. BlackRock Inc. now owns 15,225 shares of the company’s stock worth $684,000 after buying an additional 1,200 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Silicon Laboratories by 2,034.3% in the second quarter. BNP Paribas Arbitrage SA now owns 18,291 shares of the company’s stock worth $892,000 after buying an additional 17,434 shares during the period. Hedge funds and other institutional investors own 87.46% of the company’s stock.
Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) traded down 2.57% during mid-day trading on Tuesday, hitting $57.58. The stock had a trading volume of 214,988 shares. The firm has a 50 day moving average price of $56.97 and a 200 day moving average price of $50.79. The firm has a market cap of $2.40 billion, a PE ratio of 65.43 and a beta of 1.42. Silicon Laboratories Inc. has a 52-week low of $36.56 and a 52-week high of $60.06.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, July 27th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.11. The firm earned $174.90 million during the quarter, compared to analyst estimates of $170.52 million. Silicon Laboratories had a return on equity of 8.71% and a net margin of 5.66%. Silicon Laboratories’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.56 earnings per share. Equities analysts predict that Silicon Laboratories Inc. will post $2.54 EPS for the current year.
A number of brokerages recently weighed in on SLAB. B. Riley restated a “buy” rating and set a $64.00 price objective on shares of Silicon Laboratories in a research note on Monday, August 1st. Zacks Investment Research raised Silicon Laboratories from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a research report on Tuesday, August 2nd. TheStreet raised Silicon Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Silicon Laboratories in a research report on Wednesday, July 27th. Finally, Citigroup Inc. upped their target price on Silicon Laboratories from $56.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $57.91.
In other Silicon Laboratories news, CEO George Tyson Tuttle sold 5,761 shares of Silicon Laboratories stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $54.67, for a total transaction of $314,953.87. Following the completion of the sale, the chief executive officer now directly owns 253,486 shares of the company’s stock, valued at approximately $13,858,079.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sandeep P. Kumar sold 14,386 shares of Silicon Laboratories stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $59.50, for a total value of $855,967.00. Following the sale, the senior vice president now directly owns 55,912 shares of the company’s stock, valued at $3,326,764. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.
About Silicon Laboratories
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.
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