ProShare Advisors LLC lessened its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 8.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,793 shares of the semiconductor company’s stock after selling 957 shares during the period. ProShare Advisors LLC’s holdings in Silicon Laboratories were worth $669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Alps Advisors Inc. lifted its position in Silicon Laboratories by 0.3% during the second quarter. Alps Advisors Inc. now owns 6,711 shares of the semiconductor company’s stock valued at $459,000 after purchasing an additional 18 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in Silicon Laboratories by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 7,219 shares of the semiconductor company’s stock valued at $531,000 after purchasing an additional 24 shares during the last quarter. Granite Investment Partners LLC boosted its holdings in Silicon Laboratories by 0.4% in the second quarter. Granite Investment Partners LLC now owns 9,812 shares of the semiconductor company’s stock valued at $671,000 after purchasing an additional 38 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Silicon Laboratories by 1.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,180 shares of the semiconductor company’s stock valued at $422,000 after purchasing an additional 61 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Silicon Laboratories by 0.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,811 shares of the semiconductor company’s stock valued at $807,000 after purchasing an additional 100 shares during the last quarter. 88.99% of the stock is owned by hedge funds and other institutional investors.

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Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) opened at 82.80 on Wednesday. Silicon Laboratories, Inc. has a 1-year low of $55.97 and a 1-year high of $82.90. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 49.37 and a beta of 1.28. The stock’s 50 day moving average is $76.75 and its 200 day moving average is $73.44.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.79 EPS for the quarter, topping 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 company had revenue of $190.10 million during the quarter, compared to the consensus estimate of $186.46 million. During the same quarter in the prior year, the firm earned $0.75 EPS. Silicon Laboratories’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Silicon Laboratories, Inc. will post $3.06 EPS for the current year.

SLAB has been the topic of several analyst reports. Zacks Investment Research raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Wednesday, September 20th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of Silicon Laboratories in a report on Monday, September 18th. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 price objective (up previously from $82.00) on shares of Silicon Laboratories in a report on Thursday, July 27th. BidaskClub upgraded Silicon Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Finally, B. Riley restated a “buy” rating and issued a $90.00 target price on shares of Silicon Laboratories in a research note on Friday, July 28th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.44.

In related news, Director William G. Bock sold 2,500 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $75.30, for a total transaction of $188,250.00. Following the completion of the transaction, the director now directly owns 45,926 shares of the company’s stock, valued at $3,458,227.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John C. Hollister sold 2,000 shares of the firm’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 completion of the sale, the chief financial officer now 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. In the last ninety days, insiders sold 43,500 shares of company stock worth $3,393,429. Insiders own 34.82% of the company’s stock.

About Silicon Laboratories

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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