ClariVest Asset Management LLC reduced its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 53,736 shares of the semiconductor company’s stock after selling 36 shares during the period. ClariVest Asset Management LLC’s holdings in Silicon Laboratories were worth $3,672,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can boosted its stake in Silicon Laboratories by 4.9% in the first quarter. Great West Life Assurance Co. Can now owns 25,075 shares of the semiconductor company’s stock worth $1,844,000 after buying an additional 1,160 shares in the last quarter. Geneva Advisors LLC purchased a new stake in Silicon Laboratories during the first quarter worth $634,000. Wells Fargo & Company MN boosted its stake in Silicon Laboratories by 7.3% in the first quarter. Wells Fargo & Company MN now owns 80,849 shares of the semiconductor company’s stock worth $5,947,000 after buying an additional 5,508 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Silicon Laboratories by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,656 shares of the semiconductor company’s stock valued at $1,078,000 after buying an additional 200 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new position in shares of Silicon Laboratories during the first quarter valued at approximately $656,000. Institutional investors and hedge funds own 89.04% of the company’s stock.

Silicon Laboratories, Inc. (NASDAQ:SLAB) opened at 75.45 on Wednesday. Silicon Laboratories, Inc. has a 52-week low of $52.00 and a 52-week high of $79.15. The firm’s 50-day moving average is $71.90 and its 200-day moving average is $72.03. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 44.99 and a beta of 1.25.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.08. The firm had revenue of $190.10 million during the quarter, compared to the consensus estimate of $186.46 million. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. Analysts predict that Silicon Laboratories, Inc. will post $3.06 earnings per share for the current year.

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Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 price objective (up from $80.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 price objective (up from $82.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. Canaccord Genuity reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Silicon Laboratories in a research report on Thursday, April 27th. Finally, B. Riley reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, April 26th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Silicon Laboratories currently has a consensus rating of “Buy” and a consensus price target of $80.70.

In related news, CFO John C. Hollister sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $70.55, for a total value of $141,100.00. Following the completion of the transaction, the chief financial officer now directly owns 74,767 shares of the company’s stock, valued at $5,274,811.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William P. Wood sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $76.35, for a total value of $381,750.00. Following the completion of the transaction, the director now directly owns 30,526 shares of the company’s stock, valued at $2,330,660.10. The disclosure for this sale can be found here. Insiders sold 98,500 shares of company stock valued at $7,322,125 over the last ninety days. 34.82% of the stock is currently owned by corporate insiders.

About Silicon Laboratories

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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