Silicon Laboratories, Inc. $SLAB Shares Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lifted its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 59.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 547,403 shares of the semiconductor company’s stock after acquiring an additional 205,093 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Silicon Laboratories were worth $71,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Silicon Laboratories by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company’s stock worth $521,808,000 after acquiring an additional 121,432 shares during the period. State Street Corp grew its holdings in shares of Silicon Laboratories by 0.5% during the second quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock worth $223,665,000 after buying an additional 7,139 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Silicon Laboratories by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company’s stock valued at $107,814,000 after purchasing an additional 7,921 shares during the period. Invesco Ltd. grew its holdings in shares of Silicon Laboratories by 3.5% in the third quarter. Invesco Ltd. now owns 755,142 shares of the semiconductor company’s stock valued at $99,022,000 after purchasing an additional 25,273 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Silicon Laboratories by 89.5% in the third quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company’s stock valued at $91,109,000 after purchasing an additional 331,427 shares during the period.

Silicon Laboratories Stock Down 0.4%

Shares of Silicon Laboratories stock opened at $218.11 on Friday. The firm has a market capitalization of $7.19 billion, a P/E ratio of -142.56 and a beta of 1.37. Silicon Laboratories, Inc. has a 52 week low of $115.50 and a 52 week high of $219.68. The firm’s 50 day moving average is $214.50 and its two-hundred day moving average is $181.16.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $213.50 million for the quarter, compared to analyst estimates of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, research analysts expect that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup increased their target price on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and a consensus price target of $171.43.

Insider Activity

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at approximately $17,458,934.77. This trade represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.