MetLife Investment Management LLC Has $4.59 Million Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

MetLife Investment Management LLC raised its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,982 shares of the semiconductor company's stock after buying an additional 2,578 shares during the period. MetLife Investment Management LLC owned about 0.11% of Silicon Laboratories worth $4,594,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock worth $8,157,000 after acquiring an additional 13,363 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Silicon Laboratories in the 3rd quarter valued at $520,000. Franklin Resources Inc. increased 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 worth $27,001,000 after purchasing an additional 4,278 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Silicon Laboratories during the 3rd quarter worth about $694,000. Finally, Park Avenue Securities LLC purchased a new stake in Silicon Laboratories during the fourth quarter valued at about $268,000.

Silicon Laboratories Stock Down 1.1 %

Shares of SLAB traded down $1.12 during midday trading on Friday, reaching $102.76. 319,614 shares of the stock were exchanged, compared to its average volume of 326,824. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -17.30 and a beta of 1.33. The firm has a 50 day simple moving average of $116.65 and a 200-day simple moving average of $121.08. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company's revenue for the quarter was up 91.4% on a year-over-year basis. During the same quarter last year, the firm earned ($1.19) earnings per share. Research analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was 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 owns 400,567 shares of the company's stock, valued at $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Bock sold 1,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the transaction, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on SLAB shares. Stifel Nicolaus dropped their target price on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. 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. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Needham & Company LLC restated a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Finally, Barclays lowered their target price on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Silicon Laboratories presently has an average rating of "Hold" and a consensus target price of $129.00.

Silicon Laboratories Company 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.