Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,519 shares of the semiconductor company's stock after selling 3,088 shares during the quarter. Legal & General Group Plc owned approximately 0.20% of Silicon Laboratories worth $8,263,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Silicon Laboratories during the 4th quarter worth approximately $14,252,000. Arizona State Retirement System raised its stake 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 valued at $1,163,000 after purchasing an additional 167 shares in the last quarter. Franklin Resources Inc. grew its position 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 valued at $27,001,000 after buying an additional 4,278 shares during the last quarter. Barclays PLC increased its position in Silicon Laboratories by 23.4% in 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. Finally, Arkadios Wealth Advisors bought a new position in Silicon Laboratories in the 4th quarter worth approximately $237,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SLAB. KeyCorp raised their price objective 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. StockNews.com lowered Silicon Laboratories from a "hold" rating to a "sell" rating in a report on Thursday, March 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Barclays cut 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. Finally, Benchmark restated a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $129.70.

Insider Activity at Silicon Laboratories

In related news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the sale, the director now directly owns 400,567 shares in the company, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Silicon Laboratories Stock Performance

NASDAQ:SLAB traded up $5.98 during trading hours on Thursday, reaching $102.11. The stock had a trading volume of 108,119 shares, compared to its average volume of 332,001. The stock has a 50 day simple moving average of $118.59 and a 200 day simple moving average of $121.11. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The stock has a market cap of $3.32 billion, a P/E ratio of -17.19 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $166.25 million during the quarter, compared to analysts' expectations of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. Silicon Laboratories's quarterly revenue was up 91.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.19) EPS. On average, equities analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

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.