Strategic Financial Concepts LLC acquired a new position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,422 shares of the semiconductor company's stock, valued at approximately $1,543,000.
Other hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company's stock worth $32,000 after buying an additional 169 shares during the period. International Assets Investment Management LLC raised its stake in Silicon Laboratories by 11,457.1% during the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company's stock worth $93,000 after buying an additional 802 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Silicon Laboratories during the 4th quarter worth $117,000. KBC Group NV raised its stake in Silicon Laboratories by 42.1% during the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company's stock worth $159,000 after buying an additional 379 shares during the period. Finally, Van ECK Associates Corp acquired a new stake in Silicon Laboratories during the 3rd quarter worth $189,000.
Insider Activity
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 transaction of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. This trade represents 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 this hyperlink. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the transaction, the director now owns 31,115 shares of the company's stock, 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. Insiders sold 5,360 shares of company stock worth $782,610 in the last quarter. Corporate insiders own 1.72% of the company's stock.
Silicon Laboratories Trading Down 2.1 %
Shares of NASDAQ SLAB traded down $3.37 during mid-day trading on Friday, hitting $155.33. The company had a trading volume of 383,344 shares, compared to its average volume of 368,098. The company has a market capitalization of $5.04 billion, a PE ratio of -26.15 and a beta of 1.16. The firm has a 50-day simple moving average of $136.14 and a two-hundred day simple moving average of $119.75. Silicon Laboratories Inc. has a one year low of $94.00 and a one year high of $160.00.
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 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 revenue for the quarter was up 91.4% compared to the same quarter last year. During the same quarter last year, the company earned ($1.19) EPS. Sell-side analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently commented on SLAB shares. JPMorgan Chase & Co. dropped their price objective on Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Barclays lifted their price target on Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Stifel Nicolaus lifted their price target on Silicon Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Needham & Company LLC lifted their price target on Silicon Laboratories from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Susquehanna began coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $136.20.
Check Out Our Latest Stock Analysis on SLAB
Silicon Laboratories Profile
(
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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