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

Raymond James Financial Inc. acquired a new position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 114,735 shares of the semiconductor company's stock, valued at approximately $14,252,000. Raymond James Financial Inc. owned 0.35% of Silicon Laboratories at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Silicon Laboratories by 23.4% during the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock worth $8,157,000 after buying an additional 13,363 shares during the period. Tidal Investments LLC purchased a new position in shares of Silicon Laboratories in the 3rd quarter worth approximately $520,000. Franklin Resources Inc. raised its stake in shares of Silicon Laboratories by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock worth $27,001,000 after acquiring an additional 4,278 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in Silicon Laboratories during the third quarter valued at approximately $694,000. Finally, Park Avenue Securities LLC acquired a new stake in Silicon Laboratories in the fourth quarter valued at approximately $268,000.

Silicon Laboratories Price Performance

Silicon Laboratories stock traded down $1.09 during midday trading on Friday, reaching $102.79. The company had a trading volume of 199,467 shares, compared to its average volume of 328,407. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The firm's fifty day simple moving average is $117.68 and its 200-day simple moving average is $121.04. The company has a market capitalization of $3.34 billion, a P/E ratio of -17.28 and a beta of 1.33.

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 (EPS) for the quarter, hitting 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 firm had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. During the same period in the previous year, the company posted ($1.19) earnings per share. The business's revenue was up 91.4% on a year-over-year basis. On average, analysts expect that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLAB. Barclays decreased their price objective on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday. Stifel Nicolaus decreased their price target on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Benchmark reissued a "buy" rating and issued a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. StockNews.com downgraded Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $129.70.

Insider Buying and Selling

In other news, Director Navdeep S. Sooch sold 2,360 shares of the firm's stock in a transaction that occurred 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 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 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 that occurred on Tuesday, February 18th. The stock was 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 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. 1.60% of the stock is currently owned by company insiders.

About Silicon Laboratories

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.