Victory Capital Management Inc. Purchases 150 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Victory Capital Management Inc. lifted its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 2.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,638 shares of the semiconductor company’s stock after buying an additional 150 shares during the quarter. Victory Capital Management Inc.’s holdings in Silicon Laboratories were worth $734,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Silicon Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock valued at $501,462,000 after purchasing an additional 24,997 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Silicon Laboratories by 29.9% during the 1st quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after buying an additional 280,000 shares in the last quarter. Pathstone Holdings LLC acquired a new stake in Silicon Laboratories in the fourth quarter valued at about $58,205,000. Bank of New York Mellon Corp boosted its stake in Silicon Laboratories by 10.2% in the second quarter. Bank of New York Mellon Corp now owns 358,994 shares of the semiconductor company’s stock valued at $39,715,000 after buying an additional 33,210 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Silicon Laboratories by 15.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 228,997 shares of the semiconductor company’s stock valued at $32,911,000 after acquiring an additional 31,112 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on SLAB. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Silicon Laboratories presently has an average rating of “Hold” and an average price target of $135.00.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the transaction, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.72% of the stock is currently owned by company insiders.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB opened at $111.76 on Friday. Silicon Laboratories Inc. has a 52 week low of $74.56 and a 52 week high of $154.91. The firm has a market cap of $3.61 billion, a PE ratio of -33.76 and a beta of 1.19. The firm’s fifty day moving average is $110.83 and its 200-day moving average is $120.32.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.08. The firm had revenue of $145.40 million for the quarter, compared to the consensus estimate of $140.18 million. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The business’s quarterly revenue was down 40.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. Sell-side analysts forecast that Silicon Laboratories Inc. will post -3.41 EPS for the current year.

Silicon Laboratories Company Profile

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.