Capital Research Global Investors boosted its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,131,920 shares of the semiconductor company's stock after purchasing an additional 403,010 shares during the period. Capital Research Global Investors owned about 6.57% of Silicon Laboratories worth $264,827,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Silicon Laboratories during the 4th quarter valued at $34,622,000. Invesco Ltd. boosted its stake in shares of Silicon Laboratories by 46.9% during the fourth quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock valued at $73,958,000 after purchasing an additional 190,085 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Silicon Laboratories during the fourth quarter worth about $14,252,000. Alliancebernstein L.P. grew its holdings in shares of Silicon Laboratories by 58.2% during the fourth quarter. Alliancebernstein L.P. now owns 240,321 shares of the semiconductor company's stock worth $29,853,000 after purchasing an additional 88,438 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Silicon Laboratories by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock valued at $491,859,000 after buying an additional 71,942 shares during the period.
Insider Buying and Selling at Silicon Laboratories
In related news, Director William G. Bock sold 1,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total transaction of $149,430.00. Following the completion of the sale, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the company'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 completion of the sale, the director now 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 disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.
Wall Street Analyst Weigh In
SLAB has been the subject of several analyst reports. StockNews.com downgraded shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Stifel Nicolaus lowered their price objective on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, KeyCorp upped 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $129.70.
Check Out Our Latest Stock Report on SLAB
Silicon Laboratories Price Performance
Shares of NASDAQ:SLAB traded up $7.75 during trading on Thursday, reaching $103.88. 398,351 shares of the stock were exchanged, compared to its average volume of 333,130. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The stock has a fifty day moving average of $118.59 and a two-hundred day moving average of $121.11. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -17.49 and a beta of 1.33.
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 for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.19) earnings per share. Sell-side analysts forecast that Silicon Laboratories Inc. will post -0.97 EPS for the current year.
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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