278,713 Shares in Silicon Laboratories Inc. (NASDAQ:SLAB) Bought by Norges Bank

Norges Bank bought a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 278,713 shares of the semiconductor company's stock, valued at approximately $34,622,000. Norges Bank owned approximately 0.86% of Silicon Laboratories at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SLAB. Raymond James Financial Inc. purchased a new position in shares of Silicon Laboratories during the fourth quarter worth approximately $14,252,000. Arizona State Retirement System raised its stake in shares of Silicon Laboratories by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock worth $1,163,000 after acquiring an additional 167 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Silicon Laboratories by 1.9% during the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock worth $27,001,000 after acquiring an additional 4,278 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Silicon Laboratories during the third quarter worth approximately $7,408,000. Finally, Barclays PLC raised its stake in shares of Silicon Laboratories by 23.4% during 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 in the last quarter.

Analyst Ratings Changes

Several research firms have commented on SLAB. StockNews.com downgraded shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a report on Monday, January 6th. KeyCorp upped their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories has a consensus rating of "Hold" and a consensus target price of $136.20.

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Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the 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 sale, the director now owns 400,567 shares of the company's stock, valued at $59,684,483. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Bock sold 1,000 shares of the business'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 completion of the sale, the director now owns 31,115 shares of the company's stock, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,360 shares of company stock worth $782,610 over the last quarter. Insiders own 1.60% of the company's stock.

Silicon Laboratories Trading Down 10.0 %

Silicon Laboratories stock traded down $9.95 during midday trading on Thursday, hitting $89.46. The stock had a trading volume of 59,851 shares, compared to its average volume of 397,256. The firm's fifty day moving average is $129.44 and its two-hundred day moving average is $122.80. The company has a market capitalization of $2.91 billion, a PE ratio of -15.06 and a beta of 1.33. Silicon Laboratories Inc. has a 52-week low of $82.82 and a 52-week high of $160.00.

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