OppenheimerFunds Inc. increased its stake in shares of Silicon Laboratories (NASDAQ:SLAB) by 8.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 328,713 shares of the semiconductor company’s stock after buying an additional 26,650 shares during the quarter. OppenheimerFunds Inc. owned about 0.76% of Silicon Laboratories worth $32,740,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hermes Investment Management Ltd. lifted its position in Silicon Laboratories by 2.6% during the second quarter. Hermes Investment Management Ltd. now owns 707,061 shares of the semiconductor company’s stock valued at $70,423,000 after purchasing an additional 17,933 shares during the period. Van Berkom & Associates Inc. lifted its position in Silicon Laboratories by 0.7% during the second quarter. Van Berkom & Associates Inc. now owns 722,082 shares of the semiconductor company’s stock valued at $71,919,000 after purchasing an additional 4,951 shares during the period. Retirement Systems of Alabama raised its position in shares of Silicon Laboratories by 0.7% in the second quarter. Retirement Systems of Alabama now owns 110,104 shares of the semiconductor company’s stock worth $10,966,000 after acquiring an additional 743 shares during the period. Amalgamated Bank raised its position in shares of Silicon Laboratories by 15.9% in the second quarter. Amalgamated Bank now owns 7,001 shares of the semiconductor company’s stock worth $697,000 after acquiring an additional 962 shares during the period. Finally, FMR LLC raised its position in shares of Silicon Laboratories by 1.2% in the second quarter. FMR LLC now owns 6,484,660 shares of the semiconductor company’s stock worth $645,872,000 after acquiring an additional 75,633 shares during the period. 91.47% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $94.50, for a total transaction of $94,500.00. Following the completion of the sale, the director now owns 40,751 shares of the company’s stock, valued at approximately $3,850,969.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William P. Wood sold 5,442 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $98.33, for a total transaction of $535,111.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,459 shares of company stock valued at $1,506,152. 1.96% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on SLAB. Roth Capital upped their price objective on shares of Silicon Laboratories from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 11th. Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 15th. BidaskClub downgraded shares of Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 22nd. Loop Capital began coverage on shares of Silicon Laboratories in a research report on Thursday, June 21st. They set a “hold” rating and a $116.00 price target for the company. Finally, Cowen began coverage on shares of Silicon Laboratories in a research report on Thursday, May 17th. They set an “outperform” rating and a $125.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $112.73.

SLAB opened at $93.10 on Friday. Silicon Laboratories has a twelve month low of $74.05 and a twelve month high of $110.70. The stock has a market cap of $4.01 billion, a P/E ratio of 39.62, a P/E/G ratio of 2.22 and a beta of 1.51. 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 announced its quarterly earnings data on Wednesday, July 25th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08. Silicon Laboratories had a net margin of 6.78% and a return on equity of 11.90%. 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 company earned $0.79 EPS. Silicon Laboratories’s revenue was up 14.2% compared to the same quarter last year. sell-side 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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