Penn Capital Management Co. Inc. Acquires 22,126 Shares of Silicon Laboratories, Inc. (SLAB)
Penn Capital Management Co. Inc. grew its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 250.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,972 shares of the semiconductor company’s stock after acquiring an additional 22,126 shares during the period. Penn Capital Management Co. Inc. owned 0.07% of Silicon Laboratories worth $2,215,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SLAB. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Silicon Laboratories by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,623 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 148 shares during the period. Riverhead Capital Management LLC raised its position in Silicon Laboratories by 76.7% in the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock worth $157,000 after acquiring an additional 997 shares during the period. Pier 88 Investment Partners LLC bought a new position in Silicon Laboratories in the second quarter worth approximately $187,000. BT Investment Management Ltd bought a new position in Silicon Laboratories in the second quarter worth approximately $202,000. Finally, Capstone Asset Management Co. bought a new position in Silicon Laboratories in the first quarter worth approximately $222,000. Institutional investors and hedge funds own 88.98% of the company’s stock.
Silicon Laboratories, Inc. (SLAB) opened at 80.15 on Friday. Silicon Laboratories, Inc. has a 52 week low of $55.04 and a 52 week high of $80.50. The firm has a 50 day moving average of $75.48 and a 200-day moving average of $72.76. The stock has a market capitalization of $3.41 billion, a PE ratio of 47.79 and a beta of 1.25.
Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.08. Silicon Laboratories had a net margin of 9.88% and a return on equity of 11.15%. The business had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $186.46 million. During the same period in the prior year, the business earned $0.75 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts predict that Silicon Laboratories, Inc. will post $3.06 EPS for the current year.
In other Silicon Laboratories news, Director William P. Wood sold 5,000 shares of the 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 completion of the transaction, the director now owns 30,526 shares of the company’s stock, valued at $2,330,660.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John C. Hollister sold 2,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $68.25, for a total transaction of $136,500.00. Following the transaction, the chief financial officer now directly owns 70,767 shares of the company’s stock, valued at approximately $4,829,847.75. The disclosure for this sale can be found here. Insiders sold 48,500 shares of company stock valued at $3,736,179 in the last three months. 34.82% of the stock is currently owned by insiders.
Several analysts have recently commented on the stock. B. Riley restated a “buy” rating and set a $90.00 price objective on shares of Silicon Laboratories in a research report on Friday, July 28th. Zacks Investment Research downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded shares of Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. Stifel Nicolaus restated a “buy” rating and set a $85.00 price objective (up from $82.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price target on shares of Silicon Laboratories in a report on Monday, September 18th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $80.70.
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Silicon Laboratories Company 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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