Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 58.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 240,321 shares of the semiconductor company's stock after acquiring an additional 88,438 shares during the quarter. Alliancebernstein L.P. owned 0.74% of Silicon Laboratories worth $29,853,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. O Shaughnessy Asset Management LLC purchased a new stake in Silicon Laboratories during the 4th quarter worth approximately $214,000. Norges Bank bought a new stake in shares of Silicon Laboratories in the fourth quarter worth $34,622,000. Loomis Sayles & Co. L P increased its stake in shares of Silicon Laboratories by 2.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 469,883 shares of the semiconductor company's stock worth $58,368,000 after buying an additional 8,992 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Silicon Laboratories by 50.8% in the fourth quarter. JPMorgan Chase & Co. now owns 159,982 shares of the semiconductor company's stock valued at $19,873,000 after acquiring an additional 53,890 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its stake in Silicon Laboratories by 19.3% during the 4th quarter. Zions Bancorporation N.A. now owns 14,265 shares of the semiconductor company's stock valued at $1,772,000 after acquiring an additional 2,303 shares during the last quarter.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock traded up $1.63 during trading on Friday, hitting $89.82. 564,927 shares of the stock were exchanged, compared to its average volume of 330,965. Silicon Laboratories Inc. has a 12 month low of $82.82 and a 12 month high of $160.00. The stock's fifty day moving average is $127.57 and its 200 day moving average is $122.46. The stock has a market cap of $2.92 billion, a PE ratio of -15.12 and a beta of 1.33.

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Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analyst estimates of $166.09 million. During the same period in the previous year, the business posted ($1.19) EPS. Silicon Laboratories's revenue was up 91.4% on a year-over-year basis. Sell-side analysts anticipate that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SLAB has been the subject of several research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. KeyCorp boosted their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Susquehanna initiated coverage on Silicon Laboratories in a report on Tuesday, December 17th. They set a "neutral" rating and a $130.00 target price on the stock. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, Barclays raised their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $136.20.

Insider Buying and Selling

In related news, Director Navdeep S. Sooch sold 2,360 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were 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 owns 400,567 shares of the company's stock, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William G. Bock sold 1,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the transaction, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock valued at $782,610 in the last three months. 1.60% of the stock is currently owned by corporate 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.