Cortina Asset Management LLC Has $24.96 Million Stake in Silicon Laboratories, Inc. (SLAB)
Cortina Asset Management LLC grew its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 49.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,353 shares of the semiconductor company’s stock after purchasing an additional 103,956 shares during the period. Silicon Laboratories makes up about 1.0% of Cortina Asset Management LLC’s investment portfolio, making the stock its 23rd largest position. Cortina Asset Management LLC owned approximately 0.73% of Silicon Laboratories worth $24,957,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of SLAB. Bank of New York Mellon Corp raised its stake in shares of Silicon Laboratories by 62.3% during the second quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock valued at $57,523,000 after purchasing an additional 323,123 shares during the period. Vanguard Group Inc. raised its stake in shares of Silicon Laboratories by 4.7% during the second quarter. Vanguard Group Inc. now owns 3,446,677 shares of the semiconductor company’s stock valued at $235,581,000 after purchasing an additional 154,654 shares during the period. TCW Group Inc. raised its stake in shares of Silicon Laboratories by 164.9% during the third quarter. TCW Group Inc. now owns 229,473 shares of the semiconductor company’s stock valued at $18,335,000 after purchasing an additional 142,832 shares during the period. Pier Capital LLC bought a new stake in shares of Silicon Laboratories in the second quarter worth $5,274,000. Finally, State Street Corp increased its stake in shares of Silicon Laboratories by 5.1% in the second quarter. State Street Corp now owns 1,520,505 shares of the semiconductor company’s stock worth $103,925,000 after buying an additional 74,439 shares during the last quarter. Institutional investors own 90.21% of the company’s stock.
A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, October 12th. Needham & Company LLC lifted their price target on shares of Silicon Laboratories from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Roth Capital lifted their price target on shares of Silicon Laboratories from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Finally, Barclays PLC restated a “neutral” rating on shares of Silicon Laboratories in a research note on Friday, October 27th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $98.89.
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In other Silicon Laboratories news, Director William G. Bock sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $89.24, for a total transaction of $223,100.00. Following the completion of the sale, the director now owns 43,426 shares in the company, valued at $3,875,336.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO George Tyson Tuttle sold 3,713 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $80.00, for a total transaction of $297,040.00. Following the sale, the chief executive officer now 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 quarter, insiders have sold 46,700 shares of company stock valued at $3,828,729. 34.82% of the stock is owned by insiders.
Silicon Laboratories, Inc. (NASDAQ SLAB) traded up $0.05 during mid-day trading on Monday, reaching $92.20. 180,600 shares of the company’s stock traded hands, compared to its average volume of 281,918. The company has a current ratio of 5.66, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. Silicon Laboratories, Inc. has a 12-month low of $61.80 and a 12-month high of $95.55. The company has a market capitalization of $3,924.51, a price-to-earnings ratio of 40.44, a price-to-earnings-growth ratio of 2.73 and a beta of 1.40.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.09. Silicon Laboratories had a net margin of 9.60% and a return on equity of 11.06%. The firm had revenue of $198.70 million during the quarter, compared to analyst estimates of $196.20 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. equities research analysts predict that Silicon Laboratories, Inc. will post 2.25 earnings per share for the current fiscal year.
About Silicon Laboratories
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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