GW&K Investment Management LLC raised its position in Silicon Laboratories (NASDAQ:SLAB) by 13.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 745,663 shares of the semiconductor company’s stock after purchasing an additional 87,338 shares during the period. Silicon Laboratories makes up approximately 1.2% of GW&K Investment Management LLC’s investment portfolio, making the stock its 6th biggest position. GW&K Investment Management LLC’s holdings in Silicon Laboratories were worth $83,029,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of SLAB. Parametric Portfolio Associates LLC raised its stake in shares of Silicon Laboratories by 7.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 41,677 shares of the semiconductor company’s stock valued at $4,309,000 after purchasing an additional 3,023 shares in the last quarter. Vanguard Group Inc. grew its holdings in Silicon Laboratories by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,124,421 shares of the semiconductor company’s stock valued at $426,465,000 after buying an additional 20,836 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Silicon Laboratories by 10.5% during the second quarter. Envestnet Asset Management Inc. now owns 27,419 shares of the semiconductor company’s stock worth $2,835,000 after purchasing an additional 2,596 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Silicon Laboratories by 0.7% during the second quarter. Stephens Investment Management Group LLC now owns 450,434 shares of the semiconductor company’s stock worth $46,575,000 after purchasing an additional 3,064 shares in the last quarter. Finally, Strs Ohio grew its holdings in shares of Silicon Laboratories by 11.7% during the third quarter. Strs Ohio now owns 6,700 shares of the semiconductor company’s stock worth $746,000 after purchasing an additional 700 shares in the last quarter. 92.86% of the stock is owned by institutional investors.
SLAB stock traded up $0.44 during midday trading on Friday, hitting $109.00. The company had a trading volume of 169,800 shares, compared to its average volume of 303,703. Silicon Laboratories has a 52 week low of $73.13 and a 52 week high of $115.29. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 3.16 and a beta of 1.49. The stock’s 50 day moving average price is $109.83 and its 200 day moving average price is $105.11. The company has a current ratio of 6.78, a quick ratio of 6.24 and a debt-to-equity ratio of 0.34.
In related news, CEO George Tyson Tuttle sold 36,813 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $112.86, for a total transaction of $4,154,715.18. Following the sale, the chief executive officer now directly owns 212,779 shares of the company’s stock, valued at $24,014,237.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Bock sold 1,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $103.35, for a total value of $103,350.00. Following the sale, the director now directly owns 38,791 shares in the company, valued at $4,009,049.85. The disclosure for this sale can be found here. Insiders have sold 48,813 shares of company stock worth $5,472,005 over the last ninety days. 2.10% of the stock is currently owned by insiders.
SLAB has been the subject of several recent analyst reports. Benchmark initiated coverage on Silicon Laboratories in a report on Tuesday, July 23rd. They set a “buy” rating and a $120.00 price objective for the company. Roth Capital upped their target price on Silicon Laboratories from $120.00 to $130.00 in a research note on Thursday, July 25th. ValuEngine lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. TheStreet raised Silicon Laboratories from a “c+” rating to a “b-” rating in a research note on Wednesday, October 23rd. Finally, BidaskClub lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Silicon Laboratories presently has a consensus rating of “Hold” and an average price target of $113.38.
Silicon Laboratories Profile
Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.
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