Proficio Capital Partners LLC Takes $2.42 Million Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Proficio Capital Partners LLC acquired a new position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 19,503 shares of the semiconductor company's stock, valued at approximately $2,423,000. Proficio Capital Partners LLC owned about 0.06% of Silicon Laboratories at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. 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 purchasing an additional 169 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Silicon Laboratories by 207.0% during the 4th 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 stake in shares of 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 worth $93,000 after purchasing an additional 802 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Silicon Laboratories during the 4th quarter worth $117,000. Finally, KBC Group NV lifted its stake in shares of Silicon Laboratories by 42.1% during the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company's stock worth $159,000 after purchasing an additional 379 shares during the last quarter.

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Analysts Set New Price Targets

SLAB has been the subject of a number of analyst reports. KeyCorp upped their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Susquehanna initiated coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They set a "neutral" rating and a $130.00 target price on the stock. Stifel Nicolaus upped their target price on Silicon Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Benchmark raised Silicon Laboratories from a "hold" rating to a "buy" rating and set a $160.00 target price on the stock in a research report on Wednesday, February 5th. Finally, StockNews.com lowered Silicon Laboratories from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. One research 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.com, Silicon Laboratories has a consensus rating of "Hold" and a consensus target price of $136.20.

Insider Buying and Selling

In related news, Director Navdeep S. Sooch sold 2,360 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, the director now directly owns 400,567 shares of the company's stock, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Bock sold 1,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,360 shares of company stock valued at $782,610 over the last ninety days. Company insiders own 1.72% of the company's stock.

Silicon Laboratories Trading Up 2.6 %

Shares of SLAB stock traded up $3.54 during mid-day trading on Friday, reaching $138.68. The stock had a trading volume of 233,106 shares, compared to its average volume of 368,498. The business's fifty day moving average is $138.54 and its 200-day moving average is $122.52. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of -23.35 and a beta of 1.15. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $160.00.

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). The business had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company's revenue was up 91.4% on a year-over-year basis. During the same period in the prior year, the company earned ($1.19) earnings per share. On average, analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

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.