Castleark Management LLC Makes New $8.66 Million Investment in Silicon Laboratories (NASDAQ:SLAB)

Castleark Management LLC bought a new position in shares of Silicon Laboratories (NASDAQ:SLAB) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 83,740 shares of the semiconductor company’s stock, valued at approximately $8,659,000.

Other large investors also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC grew its position in Silicon Laboratories by 0.7% during the 2nd quarter. Stephens Investment Management Group LLC now owns 450,434 shares of the semiconductor company’s stock worth $46,575,000 after purchasing an additional 3,064 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Silicon Laboratories by 73.2% in the 1st quarter. Raymond James & Associates now owns 38,263 shares of the semiconductor company’s stock valued at $3,094,000 after acquiring an additional 16,173 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Silicon Laboratories in the 1st quarter valued at $15,704,000. Aperio Group LLC boosted its holdings in shares of Silicon Laboratories by 53.4% in the 2nd quarter. Aperio Group LLC now owns 15,418 shares of the semiconductor company’s stock valued at $1,594,000 after acquiring an additional 5,370 shares during the last quarter. Finally, Sun Life Financial INC purchased a new stake in shares of Silicon Laboratories in the 2nd quarter valued at $117,000. 93.17% of the stock is currently owned by institutional investors.

Shares of SLAB stock traded up $1.31 during trading hours on Thursday, hitting $114.52. The company’s stock had a trading volume of 1,644 shares, compared to its average volume of 308,882. The company has a current ratio of 6.47, a quick ratio of 5.91 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average of $108.52 and a 200 day moving average of $97.62. Silicon Laboratories has a 12-month low of $73.13 and a 12-month high of $115.29. The stock has a market cap of $4.86 billion, a PE ratio of 39.98, a price-to-earnings-growth ratio of 3.33 and a beta of 1.56.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Silicon Laboratories had a net margin of 3.84% and a return on equity of 9.97%. The firm had revenue of $206.71 million during the quarter, compared to analysts’ expectations of $206.57 million. During the same period in the previous year, the business posted $0.92 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. As a group, analysts anticipate that Silicon Laboratories will post 2.07 earnings per share for the current fiscal year.

In related news, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $103.35, for a total value of $103,350.00. Following the completion of the transaction, the director now directly owns 38,791 shares in the company, valued at approximately $4,009,049.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John C. Hollister sold 10,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the completion of the transaction, the chief financial officer now owns 69,423 shares of the company’s stock, valued at $7,636,530. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,000 shares of company stock valued at $1,308,960. Company insiders own 2.10% of the company’s stock.

Several analysts have recently commented on SLAB shares. Wells Fargo & Co started coverage on shares of Silicon Laboratories in a report on Tuesday, June 25th. They issued an “outperform” rating and a $125.00 price objective on the stock. TheStreet downgraded shares of Silicon Laboratories from a “b” rating to a “c+” rating in a report on Wednesday, July 24th. Zacks Investment Research downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. Roth Capital upped their price objective on shares of Silicon Laboratories from $120.00 to $130.00 in a report on Thursday, July 25th. Finally, BidaskClub downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $109.70.

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, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as 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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