California Public Employees Retirement System lowered its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,920 shares of the semiconductor company's stock after selling 5,289 shares during the period. California Public Employees Retirement System owned 0.15% of Silicon Laboratories worth $5,953,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of SLAB. Norges Bank bought a new position in shares of Silicon Laboratories in the 4th quarter valued at about $34,622,000. Wellington Management Group LLP raised its position in shares of Silicon Laboratories by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company's stock worth $102,670,000 after acquiring an additional 195,997 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Silicon Laboratories in the 4th quarter worth approximately $14,252,000. Vanguard Group Inc. boosted its holdings in Silicon Laboratories by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock worth $491,859,000 after acquiring an additional 71,942 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Silicon Laboratories by 114.4% during the 4th quarter. Fisher Asset Management LLC now owns 119,292 shares of the semiconductor company's stock worth $14,818,000 after purchasing an additional 63,652 shares during the last quarter.
Silicon Laboratories Price Performance
Shares of SLAB stock traded up $1.63 during trading on Friday, reaching $89.82. The company had a trading volume of 564,927 shares, compared to its average volume of 330,965. The firm's 50 day simple moving average is $127.57 and its two-hundred day simple moving average is $122.46. The company has a market capitalization of $2.92 billion, a PE ratio of -15.12 and a beta of 1.33. Silicon Laboratories Inc. has a one year low of $82.82 and a one year high of $160.00.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.11). The business had revenue of $166.25 million for the quarter, compared to analysts' expectations of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. Silicon Laboratories's quarterly revenue was up 91.4% on a year-over-year basis. During the same period in the previous year, the business posted ($1.19) earnings per share. Analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Navdeep S. Sooch sold 2,360 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now directly owns 400,567 shares of the company's stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William G. Bock sold 2,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 32,115 shares in the company, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,360 shares of company stock valued at $782,610. 1.60% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Susquehanna started coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They set a "neutral" rating and a $130.00 price objective for the company. KeyCorp raised their target price 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. StockNews.com lowered Silicon Laboratories from a "hold" rating to a "sell" rating in a research report on Thursday, March 27th. Finally, Barclays boosted their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Friday, January 17th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $136.20.
Get Our Latest Stock Report on SLAB
About Silicon Laboratories
(
Free Report)
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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