Eaton Vance Management grew its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 37.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 340,321 shares of the semiconductor company’s stock after purchasing an additional 93,214 shares during the period. Eaton Vance Management owned approximately 0.77% of Silicon Laboratories worth $43,336,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Silicon Laboratories in the 4th quarter valued at approximately $122,000. Twin Tree Management LP purchased a new stake in shares of Silicon Laboratories in the fourth quarter worth approximately $172,000. CIBC Asset Management Inc purchased a new stake in shares of Silicon Laboratories in the fourth quarter worth approximately $209,000. World Asset Management Inc purchased a new stake in shares of Silicon Laboratories in the fourth quarter worth approximately $217,000. Finally, Phoenix Holdings Ltd. purchased a new stake in shares of Silicon Laboratories in the fourth quarter worth approximately $239,000. 92.96% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:SLAB opened at $144.98 on Thursday. Silicon Laboratories Inc. has a 12-month low of $83.33 and a 12-month high of $163.43. The business’s fifty day simple moving average is $148.44 and its 200-day simple moving average is $126.79. The company has a market capitalization of $6.41 billion, a PE ratio of 483.27, a P/E/G ratio of 4.33 and a beta of 1.06. The company has a current ratio of 6.20, a quick ratio of 5.77 and a debt-to-equity ratio of 0.48.
Several brokerages have recently weighed in on SLAB. Citigroup increased their price target on Silicon Laboratories from $121.00 to $166.00 in a report on Monday, January 25th. Wells Fargo & Company increased their price target on Silicon Laboratories from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, March 2nd. Loop Capital raised their price objective on Silicon Laboratories from $108.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, February 4th. William Blair restated a “market perform” rating on shares of Silicon Laboratories in a report on Wednesday, February 3rd. Finally, Benchmark raised their price objective on Silicon Laboratories from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, March 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $154.27.
In other news, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $153.19, for a total value of $153,190.00. Following the completion of the sale, the director now owns 34,976 shares of the company’s stock, valued at approximately $5,357,973.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brandon Tolany sold 379 shares of the firm’s stock in a transaction on Monday, February 1st. The stock was sold at an average price of $132.30, for a total value of $50,141.70. Following the completion of the sale, the senior vice president now directly owns 39,536 shares of the company’s stock, valued at approximately $5,230,612.80. The disclosure for this sale can be found here. Insiders sold a total of 3,300 shares of company stock worth $497,091 over the last quarter. Company insiders own 2.33% of the company’s stock.
Silicon Laboratories Profile
Silicon Laboratories Inc, a fabless semiconductor company, provides mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers microcontrollers and wireless products, including 8-bit mixed-signal and ultra-low-power 32-bit microcontrollers (MCU); wireless MCU connectivity solutions; single and multi-protocol system-on-chip (SoC) devices and modules; wireless protocols, MCUs, and SoCs; in-house protocol stacks; Micrium, a real-time operating system that helps simplify software development for IoT developers.It also provides sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors; timing devices; multi-channel isolators, isolated drivers, isolated power converters, and mixed-signal devices; broadcast products, which include single-chip hybrid TV tuners and digital video demodulators, as well as AM/FM, HD radio, and DAB/DAB+ receivers; and hybrid software defined radio tuners, data receivers, and digital radio coprocessors.
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