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.
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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