Fisher Asset Management LLC Raises Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Fisher Asset Management LLC boosted its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 114.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 119,292 shares of the semiconductor company's stock after purchasing an additional 63,652 shares during the period. Fisher Asset Management LLC owned approximately 0.37% of Silicon Laboratories worth $14,818,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SLAB. Advisors Asset Management Inc. lifted its position in Silicon Laboratories by 159.4% during 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 during the period. International Assets Investment Management LLC lifted its holdings in shares of Silicon Laboratories by 11,457.1% during the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company's stock worth $93,000 after purchasing an additional 802 shares during the period. Venturi Wealth Management LLC boosted its position in Silicon Laboratories by 207.0% in the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company's stock valued at $98,000 after buying an additional 530 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in Silicon Laboratories in the 4th quarter worth approximately $117,000. Finally, KBC Group NV increased its holdings in Silicon Laboratories by 42.1% in 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 period.

Remove Ads

Insider Activity at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the firm's 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 transaction, the director now directly owns 400,567 shares of the company's stock, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William G. Bock sold 2,000 shares of the business's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the transaction, the director now owns 32,115 shares in the company, valued at $4,520,828.55. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,360 shares of company stock valued at $782,610. 1.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SLAB shares. Benchmark raised shares of Silicon Laboratories from a "hold" rating to a "buy" rating and set a $160.00 target price for the company in a report on Wednesday, February 5th. Needham & Company LLC lifted their price objective on Silicon Laboratories from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Stifel Nicolaus upped their target price on Silicon Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Barclays lifted their price target on Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a research report on Friday, January 17th. Finally, Susquehanna initiated coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 price objective on the stock. One investment 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.com, Silicon Laboratories has a consensus rating of "Hold" and an average target price of $136.20.

Silicon Laboratories Stock Up 2.6 %

Shares of SLAB stock traded up $3.54 during trading hours on Friday, hitting $138.68. 233,106 shares of the company's stock were exchanged, compared to its average volume of 368,498. The firm has a 50 day moving average of $138.32 and a two-hundred day moving average of $122.21. Silicon Laboratories Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $160.00. The firm has a market cap of $4.50 billion, a P/E ratio of -23.35 and a beta of 1.15.

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

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.