ING Groep NV bought a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,151 shares of the semiconductor company’s stock, valued at approximately $352,000.

Several other institutional investors have also made changes to their positions in the stock. FMR LLC boosted its position in shares of Silicon Laboratories by 1.3% in the first quarter. FMR LLC now owns 6,343,205 shares of the semiconductor company’s stock worth $466,543,000 after buying an additional 81,038 shares during the last quarter. BlackRock Inc. boosted its position in shares of Silicon Laboratories by 25,072.0% in the first quarter. BlackRock Inc. now owns 4,558,402 shares of the semiconductor company’s stock worth $335,271,000 after buying an additional 4,540,293 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Silicon Laboratories by 5.1% in the first quarter. Vanguard Group Inc. now owns 3,292,023 shares of the semiconductor company’s stock worth $242,129,000 after buying an additional 160,997 shares during the last quarter. State Street Corp boosted its position in shares of Silicon Laboratories by 4.1% in the first quarter. State Street Corp now owns 1,446,066 shares of the semiconductor company’s stock worth $106,361,000 after buying an additional 56,814 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its position in shares of Silicon Laboratories by 0.4% in the second quarter. Van Berkom & Associates Inc. now owns 795,541 shares of the semiconductor company’s stock worth $54,375,000 after buying an additional 3,090 shares during the last quarter. 89.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) traded down 0.20% during midday trading on Friday, hitting $73.40. 140,322 shares of the company’s stock traded hands. Silicon Laboratories, Inc. has a 52 week low of $54.19 and a 52 week high of $79.15. The company has a 50 day moving average of $72.41 and a 200 day moving average of $72.12. The stock has a market cap of $3.12 billion, a P/E ratio of 43.77 and a beta of 1.25.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.08. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The business had revenue of $190.10 million for the quarter, compared to the consensus estimate of $186.46 million. During the same period last year, the business earned $0.75 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that Silicon Laboratories, Inc. will post $3.06 EPS for the current fiscal year.

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SLAB has been the topic of a number of recent research reports. BidaskClub cut shares of Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price (up from $80.00) on shares of Silicon Laboratories in a report on Thursday, July 27th. Drexel Hamilton reaffirmed a “buy” rating and issued a $85.00 target price (up from $80.00) on shares of Silicon Laboratories in a report on Saturday, April 29th. Zacks Investment Research lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Finally, Stifel Nicolaus lifted their price objective on shares of Silicon Laboratories from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, May 1st. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $80.70.

In related news, CEO George Tyson Tuttle sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $74.89, for a total value of $5,616,750.00. Following the transaction, the chief executive officer now directly owns 208,592 shares of the company’s stock, valued at approximately $15,621,454.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William P. Wood sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $74.45, for a total value of $372,250.00. Following the completion of the transaction, the director now directly owns 35,526 shares in the company, valued at $2,644,910.70. The disclosure for this sale can be found here. Insiders sold a total of 101,000 shares of company stock worth $7,515,875 over the last three months. 34.82% of the stock is owned by company 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.

Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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