Commerce Bank Sells 283 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Commerce Bank lowered its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,989 shares of the semiconductor company’s stock after selling 283 shares during the quarter. Commerce Bank’s holdings in Silicon Laboratories were worth $699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SLAB. First Trust Advisors LP acquired a new position in shares of Silicon Laboratories in the 1st quarter worth approximately $1,891,000. State Board of Administration of Florida Retirement System increased its holdings in Silicon Laboratories by 2.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 13,258 shares of the semiconductor company’s stock valued at $2,032,000 after purchasing an additional 323 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Silicon Laboratories by 1.2% during the 2nd quarter. Principal Financial Group Inc. now owns 159,140 shares of the semiconductor company’s stock valued at $24,388,000 after purchasing an additional 1,869 shares in the last quarter. Cresset Asset Management LLC increased its holdings in Silicon Laboratories by 26.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,835 shares of the semiconductor company’s stock valued at $741,000 after purchasing an additional 997 shares in the last quarter. Finally, JustInvest LLC acquired a new stake in Silicon Laboratories during the 2nd quarter valued at $248,000. 98.91% of the stock is owned by institutional investors and hedge funds.

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $207.47, for a total transaction of $1,037,350.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 6th. The stock was sold at an average price of $190.69, for a total value of $190,690.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,255 shares of company stock worth $2,474,083. 2.12% of the stock is owned by company insiders.

SLAB has been the subject of a number of recent analyst reports. Needham & Company LLC raised their price target on Silicon Laboratories from $195.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, October 28th. Wells Fargo & Company raised their price target on Silicon Laboratories from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, December 21st. Morgan Stanley increased their price objective on Silicon Laboratories from $192.00 to $208.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 15th. Summit Insights upgraded Silicon Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, October 27th. Finally, Stifel Nicolaus increased their price objective on Silicon Laboratories from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, November 12th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $185.77.

SLAB stock opened at $187.31 on Friday. The business’s 50-day moving average price is $199.39 and its two-hundred day moving average price is $169.03. The company has a current ratio of 6.37, a quick ratio of 6.24 and a debt-to-equity ratio of 0.17. The firm has a market cap of $7.53 billion, a PE ratio of 3.93 and a beta of 1.15. Silicon Laboratories Inc. has a 1-year low of $120.15 and a 1-year high of $211.98.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, October 27th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.19. The firm had revenue of $184.83 million for the quarter, compared to analyst estimates of $175.20 million. Silicon Laboratories had a return on equity of 5.96% and a net margin of 249.72%. The company’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share. On average, analysts forecast that Silicon Laboratories Inc. will post 0.82 earnings per share for the current year.

About Silicon Laboratories

Silicon Laboratories, Inc designs and develops analog-intensive and mixed-signal integrated circuits. The firm offers microcontrollers, wireless, sensors, USB bridges, analog, clocks and oscillators, isolators, power, audio and radio, modems and TV and video product categories. It provides solutions for automotive, communications, data centers, healthcare & fitness, home automation & entertainment, industrial automation & power and retail industries.

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Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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