Adage Capital Partners GP L.L.C. Sells 165,263 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Adage Capital Partners GP L.L.C. decreased its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 40.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,237 shares of the semiconductor company's stock after selling 165,263 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.75% of Silicon Laboratories worth $30,091,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SLAB. Barclays PLC boosted its stake in shares of Silicon Laboratories by 23.4% in the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock valued at $8,157,000 after purchasing an additional 13,363 shares in the last quarter. Tidal Investments LLC purchased a new stake in Silicon Laboratories during the third quarter valued at about $520,000. Franklin Resources Inc. grew 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 valued at $27,001,000 after buying an additional 4,278 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Silicon Laboratories in the third quarter worth about $694,000. Finally, Park Avenue Securities LLC bought a new stake in shares of Silicon Laboratories in the 4th quarter valued at about $268,000.

Insider Buying and Selling at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 31,115 shares in the company, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $351,640.00. Following the sale, the director now directly owns 400,567 shares in the company, valued at $59,684,483. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Silicon Laboratories Trading Down 1.1 %

Shares of SLAB opened at $102.76 on Friday. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The firm's 50-day moving average price is $116.65 and its 200-day moving average price is $120.97. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of -17.30 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting 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 business had revenue of $166.25 million for the quarter, compared to analysts' expectations of $166.09 million. During the same period in the previous year, the firm posted ($1.19) EPS. The business's revenue was up 91.4% on a year-over-year basis. On average, research analysts forecast that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SLAB shares. StockNews.com cut Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Stifel Nicolaus dropped their price target on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Barclays decreased their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, KeyCorp increased their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Silicon Laboratories has an average rating of "Hold" and an average target price of $129.00.

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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