American Century Companies Inc. Boosts Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

American Century Companies Inc. grew its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 343,131 shares of the semiconductor company's stock after buying an additional 28,867 shares during the period. American Century Companies Inc. owned 1.06% of Silicon Laboratories worth $42,624,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Advisors Asset Management Inc. raised its stake in Silicon Laboratories by 159.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 169 shares during the last quarter. Citigroup Inc. raised its stake in shares of Silicon Laboratories by 37.6% in the third quarter. Citigroup Inc. now owns 59,064 shares of the semiconductor company's stock worth $6,826,000 after purchasing an additional 16,134 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Silicon Laboratories by 19.0% during the third quarter. Cerity Partners LLC now owns 14,372 shares of the semiconductor company's stock worth $1,661,000 after purchasing an additional 2,290 shares during the period. Fisher Asset Management LLC raised its position in Silicon Laboratories by 20.8% during the 3rd quarter. Fisher Asset Management LLC now owns 55,640 shares of the semiconductor company's stock worth $6,430,000 after buying an additional 9,566 shares during the last quarter. Finally, FMR LLC lifted its position in Silicon Laboratories by 1.1% during the third quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company's stock valued at $559,748,000 after purchasing an additional 54,708 shares during the period.

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Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 2,000 shares of the business's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total value of $281,540.00. Following the transaction, the director now directly owns 32,115 shares in the company, valued at $4,520,828.55. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm's stock in a transaction that occurred on 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 owns 400,567 shares of the company's stock, valued at $59,684,483. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,360 shares of company stock valued at $782,610. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SLAB has been the subject of a number of analyst reports. Barclays boosted their price target on Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. StockNews.com cut Silicon Laboratories from a "hold" rating to a "sell" rating in a report on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Susquehanna assumed 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, Benchmark reiterated a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Silicon Laboratories currently has an average rating of "Hold" and an average target price of $136.20.

Silicon Laboratories Trading Up 1.5 %

SLAB traded up $1.64 on Tuesday, hitting $114.21. 466,093 shares of the company's stock were exchanged, compared to its average volume of 316,920. Silicon Laboratories Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $160.00. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -19.23 and a beta of 1.15. The firm has a 50-day moving average price of $135.76 and a 200-day moving average price of $123.83.

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