Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 317.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,364 shares of the semiconductor company's stock after acquiring an additional 7,120 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Silicon Laboratories were worth $1,163,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in Silicon Laboratories by 44.5% in the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after buying an additional 69 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of 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 in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Silicon Laboratories by 207.0% during the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company's stock worth $98,000 after purchasing an additional 530 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in Silicon Laboratories in the fourth quarter valued at approximately $117,000. Finally, KBC Group NV grew its stake in Silicon Laboratories by 42.1% during the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company's stock worth $159,000 after buying an additional 379 shares during the last quarter.
Silicon Laboratories Stock Performance
Shares of SLAB stock traded up $1.72 during trading hours on Monday, reaching $125.29. The company had a trading volume of 192,611 shares, compared to its average volume of 303,812. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $160.00. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -21.09 and a beta of 1.15. The stock has a fifty day moving average of $138.03 and a 200-day moving average of $123.28.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced 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 during 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.19) EPS. On average, analysts forecast that Silicon Laboratories Inc. will post -0.97 EPS for the current year.
Insiders Place Their Bets
In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares of the company's stock, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the sale, the director now owns 31,115 shares of the company's stock, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock valued at $782,610 over the last quarter. 1.72% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research analysts have recently weighed in on SLAB shares. Barclays increased their price objective 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 raised shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Tuesday, March 18th. Needham & Company LLC reissued a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Susquehanna initiated coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 price objective for the company. Finally, Benchmark reissued a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $136.20.
View Our Latest Analysis on SLAB
Silicon Laboratories Profile
(
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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