Jennison Associates LLC Reduces Holdings in Silicon Laboratories (SLAB)
Jennison Associates LLC lowered its stake in Silicon Laboratories (NASDAQ:SLAB) by 27.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,529 shares of the semiconductor company’s stock after selling 5,784 shares during the period. Jennison Associates LLC’s holdings in Silicon Laboratories were worth $1,547,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of SLAB. Global X Management Co. LLC increased its holdings in shares of Silicon Laboratories by 18.1% in the first quarter. Global X Management Co. LLC now owns 34,870 shares of the semiconductor company’s stock valued at $3,135,000 after buying an additional 5,340 shares in the last quarter. Zeke Capital Advisors LLC bought a new position in shares of Silicon Laboratories in the first quarter valued at $238,000. Trexquant Investment LP bought a new position in shares of Silicon Laboratories in the first quarter valued at $773,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Silicon Laboratories by 0.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 798,289 shares of the semiconductor company’s stock valued at $71,766,000 after buying an additional 2,016 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Silicon Laboratories by 2.5% in the first quarter. Swiss National Bank now owns 74,200 shares of the semiconductor company’s stock valued at $6,671,000 after buying an additional 1,800 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors.
Shares of NASDAQ:SLAB opened at $95.35 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.95 and a current ratio of 5.58. Silicon Laboratories has a 12-month low of $71.75 and a 12-month high of $110.70. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 2.30 and a beta of 1.49.
In other Silicon Laboratories news, Director Nina Richardson sold 1,351 shares of the business’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $106.25, for a total transaction of $143,543.75. Following the sale, the director now directly owns 4,845 shares of the company’s stock, valued at approximately $514,781.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John C. Hollister sold 10,000 shares of the business’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $106.76, for a total transaction of $1,067,600.00. Following the sale, the chief financial officer now directly owns 68,692 shares in the company, valued at $7,333,557.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,470 shares of company stock worth $3,545,312. Company insiders own 1.96% of the company’s stock.
SLAB has been the topic of several research reports. ValuEngine cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Monday, April 23rd. B. Riley upped their price target on Silicon Laboratories from $115.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, April 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Silicon Laboratories in a report on Thursday, April 26th. Zacks Investment Research raised Silicon Laboratories from a “hold” rating to a “strong-buy” rating and set a $107.00 price target on the stock in a report on Wednesday, May 2nd. Finally, BidaskClub raised Silicon Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 5th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $112.73.
Silicon Laboratories Company 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, 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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