Sterling Capital Management LLC grew its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 38.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,981 shares of the semiconductor company's stock after purchasing an additional 5,269 shares during the quarter. Sterling Capital Management LLC owned about 0.06% of Silicon Laboratories worth $2,358,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in SLAB. MML Investors Services LLC grew its holdings in Silicon Laboratories by 5.3% during the third quarter. MML Investors Services LLC now owns 7,328 shares of the semiconductor company's stock worth $847,000 after purchasing an additional 370 shares during the period. Barclays PLC increased its holdings in shares of Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock worth $8,157,000 after acquiring an additional 13,363 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company's stock worth $90,282,000 after acquiring an additional 15,728 shares during the last quarter. Tidal Investments LLC bought a new stake in Silicon Laboratories in the 3rd quarter valued at $520,000. Finally, Franklin Resources Inc. lifted its holdings in Silicon Laboratories by 1.9% during the 3rd 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.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on SLAB shares. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. 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. Benchmark restated a "buy" rating and set a $160.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Stifel Nicolaus decreased their target price on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, StockNews.com lowered Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Silicon Laboratories has an average rating of "Hold" and a consensus price target of $133.70.
Read Our Latest Analysis on SLAB
Silicon Laboratories Stock Up 0.6 %
Shares of SLAB traded up $0.50 during trading hours on Friday, hitting $90.50. 545,330 shares of the company were exchanged, compared to its average volume of 332,119. Silicon Laboratories Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -15.24 and a beta of 1.33. The firm's fifty day moving average is $121.99 and its 200 day moving average is $121.56.
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, hitting 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 for the quarter, compared to the consensus estimate of $166.09 million. During the same period in the prior year, the company posted ($1.19) earnings per share. The business's revenue for the quarter was up 91.4% on a year-over-year basis. Analysts anticipate that Silicon Laboratories Inc. will post -0.97 EPS for the current year.
Insiders Place Their Bets
In other news, Director Navdeep S. Sooch sold 2,360 shares of the business'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 in the company, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock worth $782,610 over the last three months. Insiders own 1.60% of the company's stock.
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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