Westfield Capital Management Co. LP Makes New $44.89 Million Investment in Silicon Laboratories, Inc. $SLAB

Westfield Capital Management Co. LP acquired a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 342,310 shares of the semiconductor company’s stock, valued at approximately $44,887,000. Westfield Capital Management Co. LP owned about 1.04% of Silicon Laboratories at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SLAB. First Horizon Corp bought a new position in shares of Silicon Laboratories during the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC increased its holdings in shares of Silicon Laboratories by 45.7% in the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 86 shares during the last quarter. UMB Bank n.a. raised its position in shares of Silicon Laboratories by 43.9% in the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 86 shares during the period. Mather Group LLC. acquired a new stake in shares of Silicon Laboratories during the 3rd quarter worth about $39,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of Silicon Laboratories by 189.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 362 shares of the semiconductor company’s stock worth $47,000 after buying an additional 237 shares during the last quarter.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $204.72 on Friday. The business’s 50 day simple moving average is $163.32 and its 200 day simple moving average is $143.11. Silicon Laboratories, Inc. has a 1 year low of $82.82 and a 1 year high of $208.84. The company has a market capitalization of $6.75 billion, a P/E ratio of -102.87 and a beta of 1.56.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The firm had revenue of $208.21 million during the quarter, compared to the consensus estimate of $207.63 million. During the same period in the prior year, the company posted ($0.11) EPS. The company’s revenue was up 25.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on SLAB. KeyCorp cut shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a report on Wednesday, February 4th. Benchmark lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada lifted their price target on Silicon Laboratories from $160.00 to $205.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Citigroup upped their price objective on Silicon Laboratories from $135.00 to $231.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Finally, Needham & Company LLC downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $167.78.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 1,954 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $141.49, for a total transaction of $276,471.46. Following the sale, the senior vice president directly owned 62,381 shares in the company, valued at $8,826,287.69. This represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nina Richardson sold 1,355 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total transaction of $201,895.00. Following the completion of the transaction, the director owned 8,543 shares of the company’s stock, valued at $1,272,907. The trade was a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,555 shares of company stock worth $1,073,528 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Silicon Laboratories Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.