KLP Kapitalforvaltning AS Purchases Shares of 6,800 Silicon Laboratories Inc. (NASDAQ:SLAB)

KLP Kapitalforvaltning AS acquired a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,800 shares of the semiconductor company's stock, valued at approximately $845,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company's stock worth $102,670,000 after buying an additional 195,997 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company's stock worth $90,282,000 after acquiring an additional 15,728 shares during the period. GW&K Investment Management LLC boosted its position in shares of Silicon Laboratories by 5.6% in the fourth quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company's stock worth $84,723,000 after acquiring an additional 36,330 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Silicon Laboratories by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 439,796 shares of the semiconductor company's stock valued at $54,631,000 after purchasing an additional 21,991 shares during the period. Finally, American Century Companies Inc. increased its position in Silicon Laboratories by 9.2% during the fourth quarter. American Century Companies Inc. now owns 343,131 shares of the semiconductor company's stock worth $42,624,000 after purchasing an additional 28,867 shares during the last quarter.

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Analyst Upgrades and Downgrades

SLAB has been the subject of several research reports. Barclays boosted their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Needham & Company LLC reissued a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. KeyCorp upped their price target on Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, Susquehanna started coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They set a "neutral" rating and a $130.00 target price for the company. 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $136.20.

Silicon Laboratories Stock Performance

Shares of SLAB stock traded down $7.04 on Friday, hitting $92.08. The stock had a trading volume of 506,977 shares, compared to its average volume of 319,149. The stock's 50 day moving average is $133.58 and its 200-day moving average is $123.56. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -15.50 and a beta of 1.33. Silicon Laboratories Inc. has a 52-week low of $89.05 and a 52-week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share 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 quarterly revenue was up 91.4% compared to the same quarter last year. During the same quarter last year, the company earned ($1.19) earnings per share. Equities analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insider Activity

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the company'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 owns 400,567 shares in the company, valued at approximately $59,684,483. This represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Bock sold 2,000 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the transaction, the director now owns 32,115 shares of the company's stock, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,360 shares of company stock worth $782,610. 1.60% of the stock is currently owned by insiders.

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.