Bank of America Corp DE Sells 2,810 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Bank of America Corp DE decreased its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 492,672 shares of the semiconductor company's stock after selling 2,810 shares during the quarter. Bank of America Corp DE owned approximately 1.52% of Silicon Laboratories worth $61,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLAB. Barclays PLC boosted its stake 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 valued at $8,157,000 after purchasing an additional 13,363 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Silicon Laboratories during the 4th quarter worth approximately $268,000. Procyon Advisors LLC increased its position in Silicon Laboratories by 4.4% in the 4th quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company's stock valued at $395,000 after acquiring an additional 133 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of Silicon Laboratories during the fourth quarter worth $237,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Silicon Laboratories by 6.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,134 shares of the semiconductor company's stock worth $514,000 after purchasing an additional 240 shares during the last quarter.

Insider Activity at Silicon Laboratories

In other news, 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 transaction of $149,430.00. Following the completion of the transaction, the director now directly owns 31,115 shares in the company, valued at $4,649,514.45. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christy Wyatt sold 546 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total transaction of $57,029.70. Following the sale, the director now directly owns 8,492 shares of the company's stock, valued at approximately $886,989.40. The trade was a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,718 shares of company stock valued at $358,820. 1.60% of the stock is owned by company insiders.

Silicon Laboratories Trading Down 1.5%

SLAB stock traded down $2.01 during trading on Friday, reaching $131.16. 513,274 shares of the stock were exchanged, compared to its average volume of 334,984. The firm's 50 day moving average is $108.58 and its 200 day moving average is $120.93. The firm has a market cap of $4.26 billion, a P/E ratio of -22.08 and a beta of 1.36. Silicon Laboratories Inc. has a twelve month low of $82.82 and a twelve month high of $160.00.

Analyst Ratings Changes

Several brokerages recently issued reports on SLAB. StockNews.com raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday. Barclays lowered their price objective 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. Susquehanna upped their target price on Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday. Finally, Stifel Nicolaus reduced their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Silicon Laboratories has a consensus rating of "Moderate Buy" and an average target price of $126.50.

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.