Prudential Financial Inc. reduced its stake in shares of Silicon Laboratories (NASDAQ:SLAB) by 68.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,755 shares of the semiconductor company’s stock after selling 64,974 shares during the quarter. Prudential Financial Inc.’s holdings in Silicon Laboratories were worth $2,732,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Silicon Laboratories by 1.2% during the 2nd quarter. FMR LLC now owns 6,484,660 shares of the semiconductor company’s stock worth $645,872,000 after purchasing an additional 75,633 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Silicon Laboratories by 6.8% in the third quarter. GW&K Investment Management LLC now owns 725,567 shares of the semiconductor company’s stock valued at $66,607,000 after buying an additional 46,369 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in Silicon Laboratories by 0.7% in the second quarter. Van Berkom & Associates Inc. now owns 722,082 shares of the semiconductor company’s stock valued at $71,919,000 after buying an additional 4,951 shares in the last quarter. Northern Trust Corp boosted its stake in Silicon Laboratories by 3.5% in the second quarter. Northern Trust Corp now owns 687,063 shares of the semiconductor company’s stock valued at $68,431,000 after buying an additional 23,303 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in Silicon Laboratories by 310.3% in the third quarter. Frontier Capital Management Co. LLC now owns 551,776 shares of the semiconductor company’s stock valued at $50,653,000 after buying an additional 417,299 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Silicon Laboratories stock opened at $81.97 on Friday. The company has a quick ratio of 4.91, a current ratio of 5.44 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.01 and a beta of 1.65. Silicon Laboratories has a 12 month low of $75.89 and a 12 month high of $110.70.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, October 24th. The semiconductor company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.98 by $0.03. The firm had revenue of $230.20 million during the quarter, compared to the consensus estimate of $227.36 million. Silicon Laboratories had a return on equity of 12.48% and a net margin of 7.45%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. On average, research analysts anticipate that Silicon Laboratories will post 2.77 EPS for the current year.

SLAB has been the topic of several research analyst reports. BidaskClub lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, September 8th. ValuEngine lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Barclays reduced their price objective on Silicon Laboratories from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 23rd. Roth Capital reduced their price objective on Silicon Laboratories from $124.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, October 23rd. Finally, William Blair initiated coverage on Silicon Laboratories in a research note on Thursday, October 25th. They issued a “market perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $105.27.

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $82.75, for a total value of $82,750.00. Following the completion of the transaction, the director now directly owns 39,751 shares in the company, valued at $3,289,395.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alessandro Piovaccari sold 1,404 shares of the stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $80.72, for a total value of $113,330.88. Following the completion of the transaction, the senior vice president now owns 28,265 shares of the company’s stock, valued at $2,281,550.80. The disclosure for this sale can be found here. Insiders sold 3,526 shares of company stock valued at $287,501 over the last quarter. Corporate insiders own 1.96% of the company’s stock.

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Silicon Laboratories Company 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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