First Trust Advisors LP raised its holdings in shares of Silicon Laboratories (NASDAQ:SLAB) by 41.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,041 shares of the semiconductor company’s stock after buying an additional 10,215 shares during the period. First Trust Advisors LP owned about 0.08% of Silicon Laboratories worth $3,094,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in SLAB. Advisors Asset Management Inc. lifted its position in Silicon Laboratories by 75.1% during the third quarter. Advisors Asset Management Inc. now owns 1,292 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 554 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Silicon Laboratories during the fourth quarter valued at approximately $155,000. M&T Bank Corp acquired a new position in Silicon Laboratories during the fourth quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Silicon Laboratories by 52.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,479 shares of the semiconductor company’s stock valued at $219,000 after buying an additional 856 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in Silicon Laboratories during the third quarter valued at approximately $222,000. 90.58% of the stock is currently owned by hedge funds and other institutional investors.
SLAB has been the topic of a number of recent research reports. B. Riley reaffirmed a “buy” rating and set a $115.00 price target on shares of Silicon Laboratories in a research report on Friday, December 8th. Roth Capital lifted their price target on shares of Silicon Laboratories from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price target on shares of Silicon Laboratories in a research report on Monday, December 11th. BidaskClub cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, Zacks Investment Research cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $102.89.
Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, January 31st. The semiconductor company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. Silicon Laboratories had a net margin of 6.12% and a return on equity of 11.11%. The business had revenue of $201.02 million for the quarter, compared to analysts’ expectations of $197.93 million. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. research analysts anticipate that Silicon Laboratories will post 2.52 EPS for the current year.
In related news, SVP Sandeep P. Kumar sold 5,750 shares of the company’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $100.00, for a total value of $575,000.00. Following the sale, the senior vice president now directly owns 41,633 shares of the company’s stock, valued at $4,163,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brandon Tolany sold 9,060 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $91.47, for a total transaction of $828,718.20. Following the completion of the sale, the senior vice president now directly owns 44,246 shares in the company, valued at $4,047,181.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,676 shares of company stock worth $3,378,918. Corporate insiders own 1.96% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “First Trust Advisors LP Acquires 10,215 Shares of Silicon Laboratories (SLAB)” was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2018/03/14/first-trust-advisors-lp-acquires-10215-shares-of-silicon-laboratories-slab.html.
Silicon Laboratories Company 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.
Want to see what other hedge funds are holding SLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Laboratories (NASDAQ:SLAB).
Receive News & Ratings for Silicon Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.