Amundi Reduces Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Amundi lowered its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 61.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,765 shares of the semiconductor company's stock after selling 12,640 shares during the period. Amundi's holdings in Silicon Laboratories were worth $994,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SLAB. Raymond James Financial Inc. acquired a new position in shares of Silicon Laboratories in the fourth quarter worth $14,252,000. Arizona State Retirement System grew 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 purchasing an additional 167 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Silicon Laboratories by 1.9% during the 3rd 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 in the 3rd quarter valued at about $7,408,000. Finally, Intech Investment Management LLC increased its holdings in shares of Silicon Laboratories by 82.9% in the 3rd quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company's stock valued at $1,484,000 after acquiring an additional 5,818 shares during the last quarter.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 2,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the completion of the transaction, the director now owns 32,115 shares in the company, valued at approximately $4,520,828.55. This represents a 5.86 % 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 Navdeep S. Sooch sold 2,360 shares of the business's stock in a transaction 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 in the company, valued at $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,360 shares of company stock valued at $782,610. Corporate insiders own 1.72% of the company's stock.

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Silicon Laboratories Stock Performance

SLAB traded down $1.22 during trading on Friday, hitting $123.57. The stock had a trading volume of 418,789 shares, compared to its average volume of 304,259. The firm has a market capitalization of $4.01 billion, a P/E ratio of -20.80 and a beta of 1.15. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $160.00. The company's 50-day moving average price is $138.03 and its 200 day moving average price is $123.17.

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

Wall Street Analysts Forecast Growth

SLAB has been the subject of a number of research analyst reports. Benchmark reaffirmed a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. StockNews.com upgraded shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Tuesday, March 18th. Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Barclays raised their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. Finally, KeyCorp boosted their target price on Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.20.

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.