Raymond James Financial Inc. Invests $14.25 Million in Silicon Laboratories Inc. (NASDAQ:SLAB)

Raymond James Financial Inc. acquired a new stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 114,735 shares of the semiconductor company's stock, valued at approximately $14,252,000. Raymond James Financial Inc. owned about 0.35% of Silicon Laboratories as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System grew its position in Silicon Laboratories by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock valued at $1,163,000 after purchasing an additional 167 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Silicon Laboratories during the 4th quarter valued at about $2,423,000. Charles Schwab Investment Management Inc. grew its position in Silicon Laboratories by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 439,796 shares of the semiconductor company's stock valued at $54,631,000 after purchasing an additional 21,991 shares during the last quarter. Jones Financial Companies Lllp grew its position in Silicon Laboratories by 44.5% during the 4th 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. Finally, Fisher Asset Management LLC grew its position in Silicon Laboratories by 114.4% during the 4th 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.

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Wall Street Analyst Weigh In

SLAB has been the topic of several research analyst reports. Benchmark restated a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Barclays upped 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. KeyCorp upped their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, StockNews.com upgraded shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $136.20.

Insider Activity at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of the firm's stock in a transaction 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 approximately $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 5,360 shares of company stock valued at $782,610. 1.72% of the stock is owned by corporate insiders.

Silicon Laboratories Trading Down 1.0 %

Silicon Laboratories stock traded down $1.22 during midday trading on Friday, hitting $123.57. The stock had a trading volume of 418,789 shares, compared to its average volume of 303,703. The firm's fifty day moving average is $138.03 and its two-hundred day moving average is $123.05. The company has a market capitalization of $4.01 billion, a PE ratio of -20.80 and a beta of 1.15. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week 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 (EPS) 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 business had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. During the same period last year, the firm posted ($1.19) EPS. The company's revenue was up 91.4% on a year-over-year basis. As a group, equities research analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal 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.