Adage Capital Partners GP L.L.C. Has $30.09 Million Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Adage Capital Partners GP L.L.C. cut its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 40.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 242,237 shares of the semiconductor company's stock after selling 165,263 shares during the period. Adage Capital Partners GP L.L.C. owned 0.75% of Silicon Laboratories worth $30,091,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Silicon Laboratories during the 4th quarter valued at approximately $14,252,000. Arizona State Retirement System grew its stake in Silicon Laboratories by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock valued at $1,163,000 after purchasing an additional 167 shares in the last quarter. Franklin Resources Inc. grew its stake in Silicon Laboratories by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock valued at $27,001,000 after purchasing an additional 4,278 shares in the last quarter. Barclays PLC grew its stake in Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock valued at $8,157,000 after purchasing an additional 13,363 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in Silicon Laboratories during the 4th quarter valued at approximately $237,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com lowered Silicon Laboratories from a "hold" rating to a "sell" rating in a research report on Thursday, March 27th. Barclays decreased their target price on 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. Stifel Nicolaus decreased their target price on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. KeyCorp lifted 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $129.00.

Silicon Laboratories Trading Up 2.1 %

Shares of Silicon Laboratories stock traded up $2.13 on Thursday, reaching $103.89. 108,344 shares of the company were exchanged, compared to its average volume of 325,654. The stock has a fifty day moving average price of $113.38 and a 200-day moving average price of $120.73. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -17.51 and a beta of 1.33. Silicon Laboratories Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 91.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.19) earnings per share. On average, equities analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at Silicon Laboratories

In related news, Director Navdeep S. Sooch sold 2,360 shares of the firm's 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 approximately $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Bock sold 1,000 shares of the firm's 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 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. 1.60% of the stock is owned by 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.