State Board of Administration of Florida Retirement System Has $1,436,000 Position in Silicon Laboratories (SLAB)

State Board of Administration of Florida Retirement System Has $1,436,000 Position in Silicon Laboratories (SLAB)

State Board of Administration of Florida Retirement System cut its stake in Silicon Laboratories (NASDAQ:SLAB) by 2.9% during the fourth quarter, Holdings Channel reports. The fund owned 22,086 shares of the company’s stock after selling 662 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Silicon Laboratories were worth $1,436,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of Silicon Laboratories by 1.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,739 shares of the company’s stock valued at $102,000 after buying an additional 25 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Silicon Laboratories by 5.2% in the third quarter. Victory Capital Management Inc. now owns 1,881 shares of the company’s stock valued at $111,000 after buying an additional 93 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Silicon Laboratories by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,250 shares of the company’s stock valued at $110,000 after buying an additional 177 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Silicon Laboratories by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,430 shares of the company’s stock valued at $1,025,000 after buying an additional 260 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Silicon Laboratories by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 13,433 shares of the company’s stock valued at $790,000 after buying an additional 268 shares in the last quarter. 89.20% of the stock is owned by institutional investors.

Shares of Silicon Laboratories (NASDAQ:SLAB) opened at 73.20 on Friday. Silicon Laboratories has a one year low of $42.63 and a one year high of $75.60. The stock’s 50 day moving average price is $70.96 and its 200 day moving average price is $64.30. The stock has a market capitalization of $3.07 billion, a P/E ratio of 50.48 and a beta of 1.21.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, February 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.10. Silicon Laboratories had a return on equity of 10.88% and a net margin of 8.81%. The firm earned $183 million during the quarter, compared to the consensus estimate of $178.57 million. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, analysts forecast that Silicon Laboratories will post $2.87 EPS for the current year.

Several research analysts recently weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $81.00 target price on shares of Silicon Laboratories in a research note on Sunday, March 12th. DA Davidson reaffirmed a “buy” rating and set a $80.00 target price (up previously from $77.00) on shares of Silicon Laboratories in a research note on Monday, March 6th. Zacks Investment Research raised Silicon Laboratories from a “hold” rating to a “strong-buy” rating and set a $84.00 target price for the company in a research note on Wednesday, February 8th. Barclays PLC reaffirmed a “hold” rating and set a $68.00 target price on shares of Silicon Laboratories in a research note on Thursday, February 2nd. Finally, Needham & Company LLC raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Wednesday, February 1st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $70.31.

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 50,000 shares of Silicon Laboratories stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $69.13, for a total value of $3,456,500.00. Following the completion of the transaction, the director now owns 424,756 shares in the company, valued at approximately $29,363,382.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Sandeep P. Kumar sold 8,877 shares of Silicon Laboratories stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $69.50, for a total value of $616,951.50. Following the completion of the transaction, the senior vice president now owns 45,666 shares of the company’s stock, valued at approximately $3,173,787. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,387 shares of company stock valued at $4,805,397. Corporate insiders own 2.75% 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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