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Cetera Investment Advisers lifted its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB – Free Report) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,917 shares of the semiconductor company’s stock after acquiring an additional 362 shares during the period. Cetera Investment Advisers’ holdings in Silicon Laboratories were worth $362,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Silicon Laboratories during the fourth quarter worth about $14,252,000. Arizona State Retirement System increased its position in shares of Silicon Laboratories by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock worth $1,163,000 after acquiring an additional 167 shares in the last quarter. Barclays PLC increased its position in shares of Silicon Laboratories by 23.4% during the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after acquiring an additional 13,363 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Silicon Laboratories by 1.8% during the fourth quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 87 shares in the last quarter. Finally, Principal Securities Inc. grew its position in Silicon Laboratories by 12.2% in the 4th quarter. Principal Securities Inc. now owns 3,392 shares of the semiconductor company’s stock worth $421,000 after purchasing an additional 368 shares in the last quarter.
Analyst Ratings Changes
SLAB has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Barclays reduced their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Stifel Nicolaus reduced their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Susquehanna upped their price objective on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.50.
Silicon Laboratories Stock Up 0.3%
Silicon Laboratories stock opened at $123.78 on Friday. Silicon Laboratories Inc. has a twelve month low of $82.82 and a twelve month high of $160.00. The firm has a 50 day moving average price of $108.75 and a 200-day moving average price of $121.98. The company has a market capitalization of $4.03 billion, a P/E ratio of -20.84 and a beta of 1.36.
Silicon Laboratories (NASDAQ:SLAB – Get Free Report) last released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. During the same period in the prior year, the firm earned ($0.92) EPS. The company’s revenue was up 67.0% compared to the same quarter last year. Equities analysts expect that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.
Insider Activity
In related news, SVP Robert J. Conrad sold 4,029 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the sale, the senior vice president now directly owns 25,380 shares in the company, valued at approximately $3,329,856. This represents a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Matthew Johnson sold 5,879 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $771,324.80. Following the sale, the chief executive officer now owns 73,688 shares in the company, valued at $9,667,865.60. The trade was a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,626 shares of company stock valued at $1,509,319 in the last three months. Company insiders own 1.60% of the company’s stock.
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.
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