Systematic Financial Management LP decreased its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 4.5% during the second quarter, Holdings Channel reports. The institutional investor owned 36,990 shares of the company’s stock after selling 1,730 shares during the period. Systematic Financial Management LP owned about 0.09% of Silicon Laboratories worth $1,802,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System increased its position in Silicon Laboratories by 5.2% in the first quarter. Arizona State Retirement System now owns 20,365 shares of the company’s stock worth $916,000 after buying an additional 1,000 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Silicon Laboratories by 4.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 65,313 shares of the company’s stock worth $2,936,000 after buying an additional 2,930 shares in the last quarter. Legal & General Group Plc increased its position in Silicon Laboratories by 10.7% in the first quarter. Legal & General Group Plc now owns 10,837 shares of the company’s stock worth $487,000 after buying an additional 1,051 shares in the last quarter. Bayesian Capital Management LP increased its position in 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 in the last quarter. Finally, Spark Investment Management LLC acquired a new position in Silicon Laboratories during the first quarter worth about $2,468,000. Hedge funds and other institutional investors own 87.46% of the company’s stock.

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) traded up 1.95% on Thursday, hitting $56.93. 99,627 shares of the company traded hands. The stock’s 50-day moving average price is $55.37 and its 200-day moving average price is $49.49. Silicon Laboratories Inc. has a 12 month low of $36.56 and a 12 month high of $58.21. The company has a market capitalization of $2.37 billion, a PE ratio of 64.69 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, July 27th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.11. Silicon Laboratories had a net margin of 5.66% and a return on equity of 8.71%. The firm had revenue of $174.90 million for the quarter, compared to the consensus estimate of $170.52 million. During the same period in the prior year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts predict that Silicon Laboratories Inc. will post $2.53 earnings per share for the current year.

SLAB has been the subject of several recent analyst reports. Canaccord Genuity restated a “buy” rating and issued a $65.00 target price on shares of Silicon Laboratories in a research note on Wednesday, July 27th. Drexel Hamilton restated a “buy” rating and issued a $52.00 target price on shares of Silicon Laboratories in a research note on Thursday, July 28th. Stifel Nicolaus restated a “buy” rating and issued a $67.00 target price (up from $65.00) on shares of Silicon Laboratories in a research note on Friday, August 26th. Citigroup Inc. raised their target price on shares of Silicon Laboratories from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, B. Riley restated a “buy” rating and issued a $64.00 target price on shares of Silicon Laboratories in a research note on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $57.20.

In related news, Director Navdeep S. Sooch sold 4,200 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $55.00, for a total transaction of $231,000.00. Following the sale, the director now directly owns 670,556 shares of the company’s stock, valued at approximately $36,880,580. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO George Tyson Tuttle sold 5,761 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $54.67, for a total transaction of $314,953.87. Following the sale, the chief executive officer now directly owns 253,486 shares in the company, valued at $13,858,079.62. The disclosure for this sale can be found here. Corporate 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.

5 Day Chart for NASDAQ:SLAB

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