Proficio Capital Partners LLC Acquires Shares of 19,503 Silicon Laboratories Inc. (NASDAQ:SLAB)

Proficio Capital Partners LLC acquired a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,503 shares of the semiconductor company's stock, valued at approximately $2,423,000. Proficio Capital Partners LLC owned approximately 0.06% of Silicon Laboratories at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 acquiring an additional 21,991 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 69 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Silicon Laboratories by 114.4% during the fourth quarter. Fisher Asset Management LLC now owns 119,292 shares of the semiconductor company's stock valued at $14,818,000 after purchasing an additional 63,652 shares during the last quarter. GW&K Investment Management LLC lifted its stake in Silicon Laboratories by 5.6% during the fourth quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company's stock valued at $84,723,000 after purchasing an additional 36,330 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Silicon Laboratories by 1.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company's stock valued at $891,000 after purchasing an additional 102 shares during the last quarter.

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Analyst Upgrades and Downgrades

Several research firms recently commented on SLAB. Needham & Company LLC reissued a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Barclays increased their target price 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. Benchmark reissued a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. KeyCorp upped their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Finally, Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $136.20.

Silicon Laboratories Price Performance

NASDAQ:SLAB traded down $1.22 during midday trading on Friday, reaching $123.57. The stock had a trading volume of 418,789 shares, compared to its average volume of 303,703. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $160.00. The firm's fifty day simple moving average is $138.03 and its 200-day simple moving average is $123.05. The stock has a market capitalization of $4.01 billion, a P/E ratio of -20.80 and a beta of 1.15.

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 for the quarter, meeting analysts' consensus estimates of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. During the same period in the prior year, the firm earned ($1.19) EPS. The business's revenue was up 91.4% on a year-over-year basis. On average, equities research analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at Silicon Laboratories

In related news, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated 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 sale, the director now owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William G. Bock sold 1,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was 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 of the company's stock, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,360 shares of company stock valued at $782,610. Company insiders own 1.72% of the company's stock.

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.