Franklin Resources Inc. Has $27.78 Million Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Franklin Resources Inc. lowered its position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,669 shares of the semiconductor company's stock after selling 8,220 shares during the quarter. Franklin Resources Inc. owned 0.69% of Silicon Laboratories worth $27,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SLAB. Jones Financial Companies Lllp raised its stake in Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock valued at $28,000 after buying an additional 69 shares in the last quarter. Pacer Advisors Inc. boosted its position in Silicon Laboratories by 1.8% during the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company's stock valued at $601,000 after purchasing an additional 87 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Silicon Laboratories by 1.1% in 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. boosted its stake in Silicon Laboratories by 1.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company's stock valued at $891,000 after purchasing an additional 102 shares during the period. Finally, Procyon Advisors LLC raised its stake in 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 in the last quarter.

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Analyst Upgrades and Downgrades

SLAB has been the topic of several research analyst reports. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. KeyCorp upped their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Stifel Nicolaus lifted their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Needham & Company LLC restated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, Susquehanna began coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $136.20.

Silicon Laboratories Stock Down 12.7 %

SLAB stock traded down $12.65 during midday trading on Thursday, reaching $86.76. 160,266 shares of the company's stock traded hands, compared to its average volume of 327,101. The company has a 50-day simple moving average of $129.44 and a two-hundred day simple moving average of $122.80. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -14.69 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $166.25 million for the quarter, compared to analysts' expectations of $166.09 million. During the same quarter last year, the business earned ($1.19) earnings per share. The firm's quarterly revenue was up 91.4% compared to the same quarter last year. Equities research analysts forecast that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

Insider Buying and Selling

In related news, Director William G. Bock sold 1,000 shares of the firm'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 sale, the director now owns 31,115 shares of the company's stock, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their position. 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 business'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 completion of the transaction, 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 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 three months. Company insiders own 1.60% of the company's stock.

About Silicon Laboratories

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.