JPMorgan Chase & Co. trimmed its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 28.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,374 shares of the semiconductor company’s stock after selling 32,659 shares during the quarter. JPMorgan Chase & Co. owned about 0.19% of Silicon Laboratories worth $5,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Silicon Laboratories by 25,072.0% in the 1st quarter. BlackRock Inc. now owns 4,558,402 shares of the semiconductor company’s stock worth $335,271,000 after acquiring an additional 4,540,293 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Silicon Laboratories by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 3,292,023 shares of the semiconductor company’s stock worth $242,129,000 after acquiring an additional 160,997 shares in the last quarter. State Street Corp increased its stake in shares of Silicon Laboratories by 4.1% in the 1st quarter. State Street Corp now owns 1,446,066 shares of the semiconductor company’s stock worth $106,361,000 after acquiring an additional 56,814 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Silicon Laboratories by 62.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock worth $57,523,000 after acquiring an additional 323,123 shares in the last quarter. Finally, Van Berkom & Associates Inc. increased its stake in shares of Silicon Laboratories by 0.4% in the 2nd quarter. Van Berkom & Associates Inc. now owns 795,541 shares of the semiconductor company’s stock worth $54,375,000 after acquiring an additional 3,090 shares in the last quarter. Institutional investors own 88.99% of the company’s stock.

SLAB has been the subject of several research reports. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Saturday, August 26th. BidaskClub upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price target (up from $80.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price target (up from $82.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $82.44.

In other news, CFO John C. Hollister sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $68.25, for a total transaction of $136,500.00. Following the transaction, the chief financial officer now owns 70,767 shares in the company, valued at $4,829,847.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William P. Wood sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $76.35, for a total transaction of $381,750.00. Following the transaction, the director now owns 30,526 shares in the company, valued at approximately $2,330,660.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,500 shares of company stock valued at $3,800,679. Insiders own 34.82% of the company’s stock.

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Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) opened at 83.05 on Friday. Silicon Laboratories, Inc. has a 1-year low of $55.97 and a 1-year high of $83.45. The firm’s 50-day moving average is $77.17 and its 200-day moving average is $73.58. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 49.52 and a beta of 1.28.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.08. The business had revenue of $190.10 million during the quarter, compared to analyst estimates of $186.46 million. Silicon Laboratories had a net margin of 9.88% and a return on equity of 11.15%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 earnings per share. Analysts forecast that Silicon Laboratories, Inc. will post $3.06 earnings per share for the current fiscal year.

Silicon Laboratories Profile

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

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