Principal Financial Group Inc. boosted its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 13.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,425 shares of the semiconductor company’s stock after purchasing an additional 23,011 shares during the period. Principal Financial Group Inc. owned about 0.46% of Silicon Laboratories worth $13,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position in shares of Silicon Laboratories by 4.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 49,010 shares of the semiconductor company’s stock valued at $3,350,000 after acquiring an additional 2,136 shares during the period. Vanguard Group Inc. lifted its position in shares of Silicon Laboratories by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 3,292,023 shares of the semiconductor company’s stock valued at $242,129,000 after acquiring an additional 160,997 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Silicon Laboratories by 62.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock valued at $57,523,000 after acquiring an additional 323,123 shares during the period. BlackRock Inc. lifted its position in shares of Silicon Laboratories by 25,072.0% during the 1st quarter. BlackRock Inc. now owns 4,558,402 shares of the semiconductor company’s stock valued at $335,271,000 after acquiring an additional 4,540,293 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Silicon Laboratories by 54.4% during the 2nd quarter. First Trust Advisors LP now owns 40,486 shares of the semiconductor company’s stock valued at $2,767,000 after acquiring an additional 14,265 shares during the period. Hedge funds and other institutional investors own 88.98% of the company’s stock.

SLAB has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Saturday, August 26th. BidaskClub upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Needham & Company LLC reiterated a “buy” rating and set a $85.00 price target (up from $80.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $82.00 price target on shares of Silicon Laboratories in a research report on Tuesday, June 6th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $80.70.

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Silicon Laboratories, Inc. (NASDAQ:SLAB) opened at 79.90 on Thursday. Silicon Laboratories, Inc. has a 12 month low of $55.04 and a 12 month high of $80.10. The company’s 50 day moving average price is $75.48 and its 200 day moving average price is $72.76. The firm has a market capitalization of $3.40 billion, a P/E ratio of 47.64 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 (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.08. The business had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $186.46 million. Silicon Laboratories had a net margin of 9.88% and a return on equity of 11.15%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. Analysts anticipate that Silicon Laboratories, Inc. will post $3.06 EPS for the current year.

In related news, CEO George Tyson Tuttle sold 3,713 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $80.00, for a total transaction of $297,040.00. Following the completion of the sale, the chief executive officer now directly owns 204,879 shares of the company’s stock, valued at $16,390,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William P. Wood sold 5,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $68.55, for a total transaction of $342,750.00. Following the sale, the director now directly owns 30,526 shares of the company’s stock, valued at $2,092,557.30. The disclosure for this sale can be found here. Insiders sold 27,213 shares of company stock valued at $2,032,190 over the last quarter. Insiders own 34.82% of the company’s stock.

Silicon Laboratories Company Profile

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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