Pier Capital LLC Has $7.24 Million Stake in Silicon Laboratories, Inc. (SLAB)
Pier Capital LLC grew its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 17.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,607 shares of the semiconductor company’s stock after acquiring an additional 13,441 shares during the quarter. Silicon Laboratories comprises about 1.3% of Pier Capital LLC’s portfolio, making the stock its 11th biggest position. Pier Capital LLC owned approximately 0.21% of Silicon Laboratories worth $7,239,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in shares of Silicon Laboratories by 75.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,292 shares of the semiconductor company’s stock valued at $103,000 after acquiring an additional 554 shares during the period. Quantbot Technologies LP purchased a new position in shares of Silicon Laboratories in the 2nd quarter valued at $102,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Silicon Laboratories by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,623 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 148 shares during the period. Riverhead Capital Management LLC increased its holdings in shares of Silicon Laboratories by 76.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 997 shares during the period. Finally, World Asset Management Inc purchased a new position in shares of Silicon Laboratories in the 3rd quarter valued at $216,000. Institutional investors and hedge funds own 90.69% of the company’s stock.
In other Silicon Laboratories news, Director William P. Wood sold 5,000 shares of Silicon Laboratories stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $92.50, for a total transaction of $462,500.00. Following the completion of the sale, the director now owns 30,526 shares of the company’s stock, valued at approximately $2,823,655. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George Tyson Tuttle sold 3,713 shares of Silicon Laboratories stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $80.00, for a total value of $297,040.00. Following the sale, the chief executive officer now directly owns 204,879 shares of the company’s stock, valued at approximately $16,390,320. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,700 shares of company stock valued at $3,828,729. 34.82% of the stock is currently owned by insiders.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.09. Silicon Laboratories had a return on equity of 11.06% and a net margin of 9.60%. The firm had revenue of $198.70 million during the quarter, compared to analysts’ expectations of $196.20 million. During the same quarter last year, the firm earned $0.77 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. research analysts expect that Silicon Laboratories, Inc. will post 2.25 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the company. Zacks Investment Research cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Stifel Nicolaus raised their price objective on Silicon Laboratories from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. Needham & Company LLC raised their price objective on Silicon Laboratories from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Roth Capital raised their price objective on Silicon Laboratories from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Barclays reissued a “neutral” rating on shares of Silicon Laboratories in a research report on Friday, October 27th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $98.89.
Silicon Laboratories Profile
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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