State of New Jersey Common Pension Fund D Boosts Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

State of New Jersey Common Pension Fund D increased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 27.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,333 shares of the semiconductor company's stock after acquiring an additional 4,617 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.07% of Silicon Laboratories worth $2,650,000 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 the stock. FMR LLC boosted its position in shares of Silicon Laboratories by 1.1% during the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company's stock worth $559,748,000 after purchasing an additional 54,708 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Silicon Laboratories by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company's stock worth $102,670,000 after purchasing an additional 195,997 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Silicon Laboratories by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company's stock worth $90,282,000 after purchasing an additional 15,728 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Silicon Laboratories by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock worth $27,001,000 after purchasing an additional 4,278 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. lifted its stake in shares of Silicon Laboratories by 17.9% in the third quarter. Schwartz Investment Counsel Inc. now owns 230,000 shares of the semiconductor company's stock valued at $26,581,000 after buying an additional 35,000 shares in the last quarter.

Silicon Laboratories Trading Down 2.1 %

Shares of NASDAQ SLAB traded down $3.37 during midday trading on Friday, hitting $155.33. 383,344 shares of the company's stock were exchanged, compared to its average volume of 368,098. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $160.00. The business's fifty day moving average price is $135.60 and its two-hundred day moving average price is $119.37. The company has a market cap of $5.04 billion, a price-to-earnings ratio of -26.15 and a beta of 1.16.

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 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 company had revenue of $166.25 million during the quarter, compared to analysts' expectations of $166.09 million. During the same quarter in the prior year, the company earned ($1.19) EPS. The firm's revenue was up 91.4% on a year-over-year basis. Equities analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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 note on Wednesday, January 22nd. Barclays lifted their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. Susquehanna started coverage on shares of Silicon Laboratories in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 target price for the company. Needham & Company LLC lifted their target price on shares of Silicon Laboratories from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Finally, Benchmark upgraded shares of Silicon Laboratories from a "hold" rating to a "buy" rating and set a $160.00 price objective for the company in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Silicon Laboratories presently has an average rating of "Hold" and a consensus target price of $136.20.

Insider Buying and Selling at Silicon Laboratories

In other news, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction that occurred 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 transaction, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories 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 of the company's stock, 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 quarter, insiders have sold 5,360 shares of company stock worth $782,610. 1.72% of the stock is currently owned by company insiders.

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.