Granite Investment Partners LLC Raises Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Granite Investment Partners LLC raised its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,614 shares of the semiconductor company's stock after acquiring an additional 3,019 shares during the period. Granite Investment Partners LLC owned 0.15% of Silicon Laboratories worth $6,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC increased its position in Silicon Laboratories by 38.4% during the fourth quarter. Sterling Capital Management LLC now owns 18,981 shares of the semiconductor company's stock worth $2,358,000 after buying an additional 5,269 shares during the period. Kennedy Capital Management LLC raised its position in Silicon Laboratories by 7.5% in the fourth quarter. Kennedy Capital Management LLC now owns 29,524 shares of the semiconductor company's stock worth $3,667,000 after acquiring an additional 2,060 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Silicon Laboratories during the 4th quarter worth $14,252,000. Invesco Ltd. grew its stake in shares of Silicon Laboratories by 46.9% during the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock worth $73,958,000 after purchasing an additional 190,085 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Silicon Laboratories by 25.6% in the 4th quarter. Bank of Montreal Can now owns 4,474 shares of the semiconductor company's stock valued at $556,000 after purchasing an additional 911 shares in the last quarter.

Insider Buying and Selling

In other news, Director Navdeep S. Sooch sold 2,360 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was 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 directly owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $149,430.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,360 shares of company stock worth $782,610. 1.60% of the stock is owned by company insiders.

Silicon Laboratories Price Performance

NASDAQ:SLAB traded up $0.50 on Friday, reaching $90.50. The stock had a trading volume of 545,330 shares, compared to its average volume of 332,119. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -15.24 and a beta of 1.33. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The firm's fifty day moving average is $121.99 and its two-hundred 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, meeting the consensus estimate of ($0.11). The business had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company's quarterly revenue was up 91.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.19) earnings per share. As a group, research analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

SLAB has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. KeyCorp boosted their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock 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 target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $133.70.

Silicon Laboratories Company 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.