Public Employees Retirement System of Ohio decreased its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 7.4% during the first quarter, Holdings Channel reports. The institutional investor owned 1,947 shares of the semiconductor company’s stock after selling 155 shares during the period. Public Employees Retirement System of Ohio’s holdings in Silicon Laboratories were worth $143,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Silicon Laboratories by 3.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,685 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 49 shares in the last quarter. Capstone Asset Management Co. acquired a new stake in shares of Silicon Laboratories during the first quarter valued at about $222,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Silicon Laboratories during the first quarter valued at about $224,000. Virginia Retirement Systems ET AL purchased a new stake in Silicon Laboratories during the first quarter valued at $250,000. Finally, Sawgrass Asset Management LLC purchased a new stake in Silicon Laboratories during the first quarter valued at $278,000. 88.64% of the stock is owned by institutional investors.

Silicon Laboratories, Inc. (SLAB) traded up 0.61% during trading on Friday, hitting $74.55. 124,839 shares of the company were exchanged. The company has a 50-day moving average of $71.55 and a 200-day moving average of $71.85. Silicon Laboratories, Inc. has a 12 month low of $52.00 and a 12 month high of $79.15. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 44.45 and a beta of 1.25.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.08. The business had revenue of $190.10 million during the quarter, compared to analyst estimates of $186.46 million. Silicon Laboratories had a net margin of 9.88% and a return on equity of 11.15%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. Analysts forecast that Silicon Laboratories, Inc. will post $3.06 EPS for the current year.

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SLAB has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target (up previously from $80.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. Stifel Nicolaus reissued a “buy” rating and issued a $82.00 price target on shares of Silicon Laboratories in a research note on Tuesday, June 6th. Zacks Investment Research raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. DA Davidson increased their price target on shares of Silicon Laboratories from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Finally, BidaskClub cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Silicon Laboratories presently has an average rating of “Buy” and a consensus target price of $80.70.

In related news, Director William P. Wood sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $74.45, for a total value of $372,250.00. Following the completion of the sale, the director now directly owns 35,526 shares in the company, valued at $2,644,910.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO George Tyson Tuttle sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $74.89, for a total transaction of $5,616,750.00. Following the completion of the sale, the chief executive officer now owns 208,592 shares of the company’s stock, valued at $15,621,454.88. The disclosure for this sale can be found here. In the last three months, insiders sold 98,500 shares of company stock valued at $7,322,125. Company insiders own 34.82% 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, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.

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

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