Balyasny Asset Management L.P. Acquires 17,267 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Balyasny Asset Management L.P. lifted its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 49.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,235 shares of the semiconductor company's stock after purchasing an additional 17,267 shares during the period. Balyasny Asset Management L.P. owned 0.16% of Silicon Laboratories worth $6,489,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SLAB. Jones Financial Companies Lllp increased its stake in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. Headlands Technologies LLC bought a new stake in Silicon Laboratories in the fourth quarter valued at approximately $70,000. Venturi Wealth Management LLC lifted its stake in shares of Silicon Laboratories by 207.0% during the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company's stock worth $98,000 after buying an additional 530 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in Silicon Laboratories in the 4th quarter valued at $117,000. Finally, KBC Group NV grew its position in shares of 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 purchasing an additional 379 shares in the last quarter.

Insider Activity

In other news, Director Christy Wyatt sold 546 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total value of $57,029.70. Following the transaction, the director now owns 8,492 shares of the company's stock, valued at approximately $886,989.40. This represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now owns 31,115 shares of the company's stock, valued at approximately $4,649,514.45. This trade represents a 3.11% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Silicon Laboratories Stock Performance

NASDAQ:SLAB traded up $9.26 during trading on Monday, reaching $126.31. The company's stock had a trading volume of 758,706 shares, compared to its average volume of 330,670. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of -21.26 and a beta of 1.36. Silicon Laboratories Inc. has a 12 month low of $82.82 and a 12 month high of $160.00. The firm has a 50 day moving average of $108.74 and a 200-day moving average of $120.64.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SLAB shares. Barclays decreased their price target on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Benchmark reissued a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. KeyCorp upped their target price on Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Needham & Company LLC reiterated a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, Stifel Nicolaus reduced their price target 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $129.00.

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.