Victory Capital Management Inc. boosted its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,785 shares of the semiconductor company’s stock after purchasing an additional 344 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Silicon Laboratories worth $1,831,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SLAB. BlackRock Inc. boosted its position in Silicon Laboratories by 25,072.0% during the 1st quarter. BlackRock Inc. now owns 4,558,402 shares of the semiconductor company’s stock valued at $335,271,000 after purchasing an additional 4,540,293 shares during the period. Wellington Management Group LLP boosted its position in Silicon Laboratories by 710.8% during the 1st quarter. Wellington Management Group LLP now owns 722,636 shares of the semiconductor company’s stock valued at $53,150,000 after purchasing an additional 633,507 shares during the period. Bank of New York Mellon Corp boosted its position in Silicon Laboratories by 62.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock valued at $57,523,000 after purchasing an additional 323,123 shares during the period. Vanguard Group Inc. boosted its position in Silicon Laboratories by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 3,292,023 shares of the semiconductor company’s stock valued at $242,129,000 after purchasing an additional 160,997 shares during the period. Finally, GW&K Investment Management LLC boosted its position in Silicon Laboratories by 34.2% during the 2nd quarter. GW&K Investment Management LLC now owns 484,826 shares of the semiconductor company’s stock valued at $33,138,000 after purchasing an additional 123,637 shares during the period. Institutional investors and hedge funds own 88.98% of the company’s stock.

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In other Silicon Laboratories news, Director William P. Wood sold 5,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $68.55, for a total value of $342,750.00. Following the transaction, the director now directly owns 30,526 shares in the company, valued at approximately $2,092,557.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William G. Bock sold 2,500 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $75.30, for a total value of $188,250.00. Following the completion of the transaction, the director now owns 45,926 shares in the company, valued at $3,458,227.80. The disclosure for this sale can be found here. Insiders have sold a total of 23,500 shares of company stock valued at $1,720,650 over the last ninety days. Insiders own 34.82% of the company’s stock.

Silicon Laboratories, Inc. (NASDAQ SLAB) opened at 73.00 on Monday. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 43.53 and a beta of 1.25. Silicon Laboratories, Inc. has a 12 month low of $54.30 and a 12 month high of $79.15. The firm’s 50-day moving average price is $74.62 and its 200-day moving average price is $72.39.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results 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 firm had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $186.46 million. During the same period last year, the firm posted $0.75 EPS. The business’s revenue was up 8.7% on a year-over-year basis. Equities research analysts predict that Silicon Laboratories, Inc. will post $3.06 earnings per share for the current year.

A number of research analysts recently issued reports on SLAB shares. BidaskClub lowered Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective (up previously from $80.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. Zacks Investment Research upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Saturday, August 26th. B. Riley restated a “buy” rating and set a $90.00 price objective on shares of Silicon Laboratories in a research report on Friday, July 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $82.00 price objective on shares of Silicon Laboratories in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Silicon Laboratories currently has an average rating of “Buy” and an average target price of $80.10.

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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