Corebridge Financial Inc. reduced its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,427 shares of the semiconductor company's stock after selling 2,655 shares during the quarter. Corebridge Financial Inc. owned about 0.16% of Silicon Laboratories worth $6,512,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position in shares of Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 69 shares in the last quarter. Pacer Advisors Inc. grew its position in Silicon Laboratories by 1.8% during the fourth quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company's stock worth $601,000 after buying an additional 87 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Silicon Laboratories by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company's stock worth $1,118,000 after acquiring an additional 100 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Silicon Laboratories by 1.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company's stock valued at $891,000 after acquiring an additional 102 shares in the last quarter. Finally, Procyon Advisors LLC lifted its position in shares of Silicon Laboratories by 4.4% during the 4th quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company's stock valued at $395,000 after acquiring an additional 133 shares during the period.
Insider Buying and Selling
In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $351,640.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 5,360 shares of company stock valued at $782,610 over the last 90 days. 1.60% of the stock is owned by insiders.
Silicon Laboratories Price Performance
SLAB stock traded up $0.81 during midday trading on Wednesday, reaching $115.02. 56,450 shares of the stock were exchanged, compared to its average volume of 367,929. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $160.00. The company has a fifty day moving average price of $135.76 and a 200 day moving average price of $123.83. The stock has a market capitalization of $3.73 billion, a PE ratio of -19.36 and a beta of 1.15.
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 the consensus estimate of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. During the same quarter in the prior year, the firm posted ($1.19) earnings per share. The firm's revenue was up 91.4% compared to the same quarter last year. As a group, analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Barclays raised their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Monday, January 6th. StockNews.com cut shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. Finally, Benchmark restated a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Silicon Laboratories has an average rating of "Hold" and an average price target of $136.20.
View Our Latest Research Report on Silicon Laboratories
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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