Westfield Capital Management Co. LP Invests $44.89 Million in Silicon Laboratories, Inc. $SLAB

Westfield Capital Management Co. LP purchased a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 342,310 shares of the semiconductor company’s stock, valued at approximately $44,887,000.

A number of other institutional investors have also added to or reduced their stakes in SLAB. First Horizon Corp acquired a new stake in Silicon Laboratories in the third quarter valued at approximately $35,000. EverSource Wealth Advisors LLC increased its holdings in shares of Silicon Laboratories by 45.7% during the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after buying an additional 86 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Silicon Laboratories by 43.9% in the 3rd quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 86 shares during the last quarter. Mather Group LLC. bought a new position in shares of Silicon Laboratories in the 3rd quarter valued at $39,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Silicon Laboratories by 189.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 362 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 237 shares in the last quarter.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $204.72 on Friday. Silicon Laboratories, Inc. has a 52 week low of $82.82 and a 52 week high of $208.84. The firm’s fifty day moving average is $163.32 and its 200-day moving average is $143.11. The firm has a market cap of $6.75 billion, a P/E ratio of -102.87 and a beta of 1.56.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The business had revenue of $208.21 million during the quarter, compared to the consensus estimate of $207.63 million. Silicon Laboratories had a negative net margin of 8.27% and a negative return on equity of 4.07%. Silicon Laboratories’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) earnings per share. As a group, sell-side analysts anticipate that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SLAB shares. Citigroup upped their target price on Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Needham & Company LLC downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Benchmark downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, December 29th. Finally, KeyCorp downgraded shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $167.78.

Insider Activity

In other Silicon Laboratories news, SVP Brandon Tolany sold 1,954 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $141.49, for a total transaction of $276,471.46. Following the transaction, the senior vice president directly owned 62,381 shares in the company, valued at approximately $8,826,287.69. This represents a 3.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nina Richardson sold 1,355 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $149.00, for a total transaction of $201,895.00. Following the sale, the director directly owned 8,543 shares of the company’s stock, valued at approximately $1,272,907. This trade represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 7,555 shares of company stock worth $1,073,528. 1.60% of the stock is owned by corporate insiders.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.