Mutual of America Capital Management LLC reduced its position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 49.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,140 shares of the semiconductor company's stock after selling 16,727 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Silicon Laboratories worth $2,129,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in SLAB. Advisors Asset Management Inc. lifted its stake in shares of 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 last quarter. Venturi Wealth Management LLC grew its holdings in shares of Silicon Laboratories by 207.0% in the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company's stock worth $98,000 after purchasing an additional 530 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Silicon Laboratories by 11,457.1% during the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company's stock valued at $93,000 after buying an additional 802 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in Silicon Laboratories in the 4th quarter valued at about $117,000. Finally, KBC Group NV increased its position in shares of Silicon Laboratories by 42.1% during the fourth quarter. KBC Group NV now owns 1,279 shares of the semiconductor company's stock worth $159,000 after acquiring an additional 379 shares during the period.
Silicon Laboratories Stock Down 7.5 %
Shares of SLAB traded down $10.01 during mid-day trading on Tuesday, hitting $123.80. 626,634 shares of the company traded hands, compared to its average volume of 375,777. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $160.00. The business has a 50 day moving average of $138.72 and a 200 day moving average of $122.73. The company has a market capitalization of $4.02 billion, a PE ratio of -20.84 and a beta of 1.15.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting analysts' consensus estimates 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 analyst estimates of $166.09 million. During the same period in the prior year, the company earned ($1.19) earnings per share. The company's revenue was up 91.4% on a year-over-year basis. As a group, research analysts expect that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Navdeep S. Sooch sold 2,360 shares of the company'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 sale, the director now owns 400,567 shares in the company, valued at $59,684,483. This represents 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 through the SEC website. Also, Director William G. Bock sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the transaction, the director now directly owns 31,115 shares of the company's stock, valued at $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,360 shares of company stock valued at $782,610. 1.72% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on SLAB shares. KeyCorp boosted their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a report 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 report on Monday, January 6th. Benchmark raised shares of Silicon Laboratories from a "hold" rating to a "buy" rating and set a $160.00 price objective for the company in a research note on Wednesday, February 5th. StockNews.com cut shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Finally, Needham & Company LLC lifted their price objective on shares of Silicon Laboratories from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Silicon Laboratories has an average rating of "Hold" and a consensus price target of $136.20.
Check Out Our Latest Stock Analysis on SLAB
Silicon Laboratories Profile
(
Free Report)
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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