G2 Investment Partners Management LLC purchased a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB – Free Report) during the second quarter, HoldingsChannel reports. The fund purchased 18,100 shares of the semiconductor company’s stock, valued at approximately $2,667,000.
Several other large investors have also recently modified their holdings of SLAB. JPMorgan Chase & Co. grew its stake in Silicon Laboratories by 51.6% in the second quarter. JPMorgan Chase & Co. now owns 170,704 shares of the semiconductor company’s stock worth $25,155,000 after purchasing an additional 58,109 shares in the last quarter. Creative Planning raised its stake in shares of Silicon Laboratories by 36.4% during the 2nd quarter. Creative Planning now owns 14,321 shares of the semiconductor company’s stock worth $2,110,000 after acquiring an additional 3,820 shares in the last quarter. Strs Ohio acquired a new stake in shares of Silicon Laboratories in the 1st quarter worth $720,000. Lisanti Capital Growth LLC purchased a new stake in shares of Silicon Laboratories during the second quarter worth about $4,192,000. Finally, Atria Investments Inc acquired a new position in Silicon Laboratories during the 2nd quarter valued at approximately $305,000.
Silicon Laboratories Stock Performance
Shares of Silicon Laboratories stock opened at $136.39 on Friday. The stock has a 50 day moving average of $130.68 and a 200 day moving average of $134.26. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of -51.66 and a beta of 1.56. Silicon Laboratories, Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Silicon Laboratories in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and a consensus price target of $153.43.
Get Our Latest Stock Analysis on Silicon Laboratories
Insider Buying and Selling
In other news, SVP Brandon Tolany sold 1,954 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $141.49, for a total value of $276,471.46. Following the completion of the sale, the senior vice president directly owned 62,381 shares of the company’s stock, valued at approximately $8,826,287.69. The trade was a 3.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by corporate insiders.
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.
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