ExodusPoint Capital Management LP Purchases Shares of 15,224 Silicon Laboratories Inc. (NASDAQ:SLAB)

ExodusPoint Capital Management LP acquired a new position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 15,224 shares of the semiconductor company's stock, valued at approximately $1,891,000.

A number of other large investors have also recently added to or reduced their stakes in SLAB. Raymond James Financial Inc. purchased a new stake in shares of Silicon Laboratories in the fourth quarter valued at about $14,252,000. Arizona State Retirement System lifted its stake in Silicon Laboratories by 1.8% in the 4th quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock valued at $1,163,000 after buying an additional 167 shares in the last quarter. Franklin Resources Inc. lifted its stake in Silicon Laboratories by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock valued at $27,001,000 after buying an additional 4,278 shares in the last quarter. Barclays PLC raised its holdings in shares of Silicon Laboratories by 23.4% in the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock worth $8,157,000 after acquiring an additional 13,363 shares during the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Silicon Laboratories in the fourth quarter valued at $237,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Needham & Company LLC reissued a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. StockNews.com cut shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. KeyCorp increased their price target on Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Susquehanna started coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on Silicon Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $136.20.

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Silicon Laboratories Trading Up 3.3 %

Shares of SLAB traded up $2.95 during midday trading on Monday, reaching $92.77. 45,816 shares of the company were exchanged, compared to its average volume of 330,425. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -15.62 and a beta of 1.33. The stock has a 50-day moving average price of $127.57 and a 200-day moving average price of $122.49.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. During the same period in the previous year, the company posted ($1.19) EPS. Silicon Laboratories's revenue for the quarter was up 91.4% on a year-over-year basis. Equities research analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insider Buying and Selling at Silicon Laboratories

In related news, Director Navdeep S. Sooch sold 2,360 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William G. Bock sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now owns 31,115 shares of the company's stock, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock valued at $782,610 in the last ninety days. Insiders own 1.60% of the company's stock.

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.