Silicon Laboratories (NASDAQ:SLAB) Position Boosted by Carnegie Capital Asset Management LLC

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Carnegie Capital Asset Management LLC lifted its position in shares of Silicon Laboratories (NASDAQ:SLAB) by 20.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,896 shares of the semiconductor company’s stock after acquiring an additional 2,200 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Silicon Laboratories were worth $1,232,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its position in shares of Silicon Laboratories by 4.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the semiconductor company’s stock valued at $1,165,000 after acquiring an additional 500 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Silicon Laboratories by 2.6% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 25,100 shares of the semiconductor company’s stock valued at $2,500,000 after acquiring an additional 635 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in shares of Silicon Laboratories by 10.6% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 6,766 shares of the semiconductor company’s stock valued at $674,000 after acquiring an additional 646 shares in the last quarter. Denver Investment Advisors LLC raised its position in shares of Silicon Laboratories by 6.6% during the 1st quarter. Denver Investment Advisors LLC now owns 10,851 shares of the semiconductor company’s stock valued at $976,000 after acquiring an additional 676 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Silicon Laboratories by 2.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 24,852 shares of the semiconductor company’s stock valued at $2,235,000 after acquiring an additional 700 shares in the last quarter. 91.44% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Alessandro Piovaccari sold 1,405 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $92.90, for a total transaction of $130,524.50. Following the completion of the transaction, the senior vice president now owns 29,669 shares of the company’s stock, valued at $2,756,250.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sumit Sadana sold 5,500 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $95.56, for a total value of $525,580.00. Following the transaction, the director now directly owns 5,313 shares of the company’s stock, valued at approximately $507,710.28. The disclosure for this sale can be found here. In the last three months, insiders sold 11,422 shares of company stock valued at $1,101,564. Company insiders own 1.96% of the company’s stock.

Several research firms recently issued reports on SLAB. Stifel Nicolaus upped 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. BidaskClub lowered Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 22nd. Loop Capital began coverage on Silicon Laboratories in a research report on Thursday, June 21st. They set a “hold” rating and a $116.00 price target on the stock. Zacks Investment Research lowered Silicon Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, B. Riley increased their target price on Silicon Laboratories to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. One 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’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $112.73.

NASDAQ SLAB traded up $1.31 during trading hours on Friday, hitting $81.45. The company had a trading volume of 345,056 shares, compared to its average volume of 257,692. Silicon Laboratories has a fifty-two week low of $79.80 and a fifty-two week high of $110.70. The firm has a market capitalization of $3.98 billion, a PE ratio of 34.66, a P/E/G ratio of 2.20 and a beta of 1.50. 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 released its quarterly earnings results on Wednesday, July 25th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts expect that Silicon Laboratories will post 2.78 earnings per share for the current fiscal year.

Silicon Laboratories 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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