Commerce Bank lifted its position in Silicon Laboratories (NASDAQ:SLAB) by 11.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,634 shares of the semiconductor company’s stock after purchasing an additional 866 shares during the quarter. Commerce Bank’s holdings in Silicon Laboratories were worth $793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its stake in Silicon Laboratories by 4.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the semiconductor company’s stock valued at $1,165,000 after acquiring an additional 500 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Silicon Laboratories by 2.6% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 25,100 shares of the semiconductor company’s stock valued at $2,500,000 after acquiring an additional 635 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in Silicon Laboratories by 10.6% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 6,766 shares of the semiconductor company’s stock valued at $674,000 after acquiring an additional 646 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Silicon Laboratories by 4.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 17,577 shares of the semiconductor company’s stock valued at $1,751,000 after acquiring an additional 720 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in Silicon Laboratories by 0.7% during the 2nd quarter. Retirement Systems of Alabama now owns 110,104 shares of the semiconductor company’s stock valued at $10,966,000 after acquiring an additional 743 shares during the last quarter. 91.37% of the stock is owned by hedge funds and other institutional investors.

SLAB has been the subject of several analyst reports. Zacks Investment Research raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research note on Tuesday, July 31st. B. Riley upped their price objective on Silicon Laboratories to $123.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. BidaskClub raised Silicon Laboratories from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 6th. Loop Capital reduced their price objective on Silicon Laboratories to $110.00 and set a “hold” rating for the company in a research note on Thursday, July 26th. Finally, Needham & Company LLC reduced their price objective on Silicon Laboratories from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $105.27.

In other news, SVP Alessandro Piovaccari sold 1,404 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $80.72, for a total transaction of $113,330.88. Following the completion of the transaction, the senior vice president now directly owns 28,265 shares of the company’s stock, valued at approximately $2,281,550.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William G. Bock sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $94.50, for a total value of $94,500.00. Following the transaction, the director now directly owns 40,751 shares of the company’s stock, valued at $3,850,969.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,916 shares of company stock valued at $1,015,797. Company insiders own 1.96% of the company’s stock.

Shares of SLAB stock opened at $84.37 on Friday. The company has a market cap of $3.71 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 2.07 and a beta of 1.60. Silicon Laboratories has a 12-month low of $75.89 and a 12-month high of $110.70. The company has a quick ratio of 4.91, a current ratio of 5.44 and a debt-to-equity ratio of 0.34.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, October 24th. The semiconductor company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.03. The business had revenue of $230.20 million during the quarter, compared to the consensus estimate of $227.36 million. Silicon Laboratories had a return on equity of 12.48% and a net margin of 7.45%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. On average, equities research analysts expect that Silicon Laboratories will post 2.77 earnings per share for the current year.

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About Silicon Laboratories

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, such as 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, including 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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Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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