Teacher Retirement System of Texas Buys 2,384 Shares of Silicon Laboratories, Inc. $SLAB

Teacher Retirement System of Texas grew its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 47.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,426 shares of the semiconductor company’s stock after acquiring an additional 2,384 shares during the quarter. Teacher Retirement System of Texas’ holdings in Silicon Laboratories were worth $1,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SLAB. Principal Financial Group Inc. grew its position in Silicon Laboratories by 72.2% during the 1st quarter. Principal Financial Group Inc. now owns 129,911 shares of the semiconductor company’s stock valued at $14,624,000 after purchasing an additional 54,463 shares during the last quarter. Strs Ohio bought a new position in shares of Silicon Laboratories in the first quarter worth approximately $720,000. Cerity Partners LLC grew its holdings in shares of Silicon Laboratories by 5.9% during the first quarter. Cerity Partners LLC now owns 13,552 shares of the semiconductor company’s stock valued at $1,526,000 after buying an additional 755 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Silicon Laboratories by 12.7% during the first quarter. Intech Investment Management LLC now owns 20,225 shares of the semiconductor company’s stock valued at $2,277,000 after buying an additional 2,273 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Silicon Laboratories by 51.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,155 shares of the semiconductor company’s stock valued at $638,000 after acquiring an additional 1,404 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SLAB. Susquehanna upped their price objective on Silicon Laboratories from $110.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Morgan Stanley lowered their price target on Silicon Laboratories from $157.00 to $144.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. Stifel Nicolaus increased their price objective on Silicon Laboratories from $144.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Barclays boosted their target price on Silicon Laboratories from $100.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $153.43.

Insider Activity

In related news, SVP Brandon Tolany sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $145.23, for a total transaction of $1,161,840.00. Following the completion of the sale, the senior vice president directly owned 62,328 shares in the company, valued at approximately $9,051,895.44. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 12,070 shares of company stock valued at $1,703,472 over the last quarter. Company insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $130.25 on Friday. Silicon Laboratories, Inc. has a one year low of $82.82 and a one year high of $160.00. The stock has a fifty day moving average of $133.23 and a 200 day moving average of $131.54. The stock has a market cap of $4.27 billion, a PE ratio of -40.45 and a beta of 1.55.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. Silicon Laboratories had a negative return on equity of 7.21% and a negative net margin of 14.88%.The business had revenue of $192.85 million for the quarter, compared to analysts’ expectations of $192.57 million. During the same period last year, the firm posted ($0.56) earnings per share. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. As a group, sell-side analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Silicon Laboratories 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.