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Teacher Retirement System of Texas Purchases New Stake in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Silicon Laboratories logo with Computer and Technology background

Teacher Retirement System of Texas acquired a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,042 shares of the semiconductor company's stock, valued at approximately $568,000.

A number of other large investors have also modified their holdings of the stock. KBC Group NV raised its holdings in shares of Silicon Laboratories by 27.1% in the 1st quarter. KBC Group NV now owns 1,625 shares of the semiconductor company's stock valued at $183,000 after purchasing an additional 346 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Silicon Laboratories by 2.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,379 shares of the semiconductor company's stock valued at $831,000 after purchasing an additional 210 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Silicon Laboratories by 17.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,751 shares of the semiconductor company's stock valued at $310,000 after purchasing an additional 417 shares in the last quarter. GAMMA Investing LLC raised its stake in Silicon Laboratories by 99.6% during the 1st quarter. GAMMA Investing LLC now owns 1,126 shares of the semiconductor company's stock worth $127,000 after acquiring an additional 562 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Silicon Laboratories by 1,612.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 30,856 shares of the semiconductor company's stock worth $3,473,000 after acquiring an additional 29,054 shares in the last quarter.

Silicon Laboratories Stock Up 2.9%

Shares of NASDAQ SLAB traded up $4.24 during midday trading on Friday, hitting $149.63. The company had a trading volume of 559,620 shares, compared to its average volume of 354,219. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $160.00. The business has a 50-day simple moving average of $136.58 and a two-hundred day simple moving average of $127.91. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of -29.28 and a beta of 1.47.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. The company had revenue of $177.71 million during the quarter, compared to analysts' expectations of $177.48 million. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The firm's quarterly revenue was up 67.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.92) earnings per share. On average, equities analysts forecast that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Insider Activity

In related news, Director Christy Wyatt sold 546 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total value of $57,029.70. Following the completion of the sale, the director directly owned 8,492 shares in the company, valued at approximately $886,989.40. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the completion of the sale, the senior vice president owned 25,380 shares of the company's stock, valued at approximately $3,329,856. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,626 shares of company stock valued at $1,509,319 over the last 90 days. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday. Wall Street Zen raised shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Barclays lowered their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Finally, KeyCorp raised their price objective on shares of Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.00.

Read Our Latest Research Report on SLAB

Silicon Laboratories Company Profile

(Free Report)

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.

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

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