JPMorgan Chase & Co. boosted its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 50.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 159,982 shares of the semiconductor company's stock after buying an additional 53,890 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.49% of Silicon Laboratories worth $19,873,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Silicon Laboratories in the fourth quarter valued at about $14,252,000. Arizona State Retirement System raised its holdings in shares of Silicon Laboratories by 1.8% in the 4th quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock worth $1,163,000 after purchasing an additional 167 shares during the period. Franklin Resources Inc. lifted its stake in Silicon Laboratories by 1.9% in the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock valued at $27,001,000 after purchasing an additional 4,278 shares during the last quarter. Barclays PLC grew 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 valued at $8,157,000 after purchasing an additional 13,363 shares during the period. Finally, Arkadios Wealth Advisors purchased a new stake in Silicon Laboratories in the fourth quarter worth $237,000.
Silicon Laboratories Price Performance
NASDAQ:SLAB traded up $0.31 during trading hours on Tuesday, hitting $91.61. The stock had a trading volume of 106,302 shares, compared to its average volume of 406,957. The company has a 50 day simple moving average of $126.42 and a two-hundred day simple moving average of $122.32. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -15.42 and a beta of 1.33. Silicon Laboratories Inc. has a one year low of $82.82 and a one year high of $160.00.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. During the same quarter last year, the company earned ($1.19) earnings per share. The firm's quarterly revenue was up 91.4% on a year-over-year basis. Equities research analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.
Insider Buying and Selling
In related news, Director William G. Bock sold 1,000 shares of the business's 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 sale, the director now owns 31,115 shares in the company, valued at $4,649,514.45. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the 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 transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,360 shares of company stock worth $782,610. Insiders own 1.60% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Stifel Nicolaus upped their price target on Silicon Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Susquehanna began coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a "neutral" rating and a $130.00 price objective on the stock. StockNews.com lowered shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a research report on Thursday, March 27th. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Finally, Barclays upped their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $136.20.
Get Our Latest Analysis on Silicon Laboratories
About Silicon Laboratories
(
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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