Marshall Wace LLP Buys 66,693 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Marshall Wace LLP increased its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 1,041.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,095 shares of the semiconductor company's stock after buying an additional 66,693 shares during the quarter. Marshall Wace LLP owned approximately 0.23% of Silicon Laboratories worth $9,080,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its stake in Silicon Laboratories by 23.4% in the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock valued at $8,157,000 after acquiring an additional 13,363 shares during the last quarter. Tidal Investments LLC acquired a new stake in Silicon Laboratories in the 3rd quarter valued at about $520,000. Franklin Resources Inc. lifted its stake in Silicon Laboratories by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock valued at $27,001,000 after purchasing an additional 4,278 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Silicon Laboratories during the third quarter worth about $694,000. Finally, Park Avenue Securities LLC acquired a new position in Silicon Laboratories during the fourth quarter worth approximately $268,000.

Insider Buying and Selling

In related news, Director William G. Bock sold 1,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction that occurred on 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 directly owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Silicon Laboratories Stock Up 4.3 %

NASDAQ SLAB opened at $94.32 on Wednesday. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The firm has a 50-day moving average price of $119.66 and a two-hundred day moving average price of $121.28. The company has a market capitalization of $3.06 billion, a P/E ratio of -15.88 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $166.09 million. The firm's revenue for the quarter was up 91.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.19) earnings per share. Equities analysts expect that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

Analysts Set New Price Targets

SLAB has been the subject of several research analyst reports. StockNews.com downgraded Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. KeyCorp lifted their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Barclays dropped their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Stifel Nicolaus reduced their target price on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Benchmark reiterated a "buy" rating and issued a $160.00 price target 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 given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories has an average rating of "Hold" and a consensus price target of $129.70.

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.

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