Barclays PLC Raises Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Barclays PLC boosted its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 22.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,648 shares of the semiconductor company's stock after acquiring an additional 16,080 shares during the quarter. Barclays PLC owned 0.27% of Silicon Laboratories worth $10,764,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Synovus Financial Corp raised its stake in shares of Silicon Laboratories by 24.4% in the fourth quarter. Synovus Financial Corp now owns 4,401 shares of the semiconductor company's stock worth $547,000 after purchasing an additional 862 shares during the last quarter. Granite Investment Partners LLC raised its position in Silicon Laboratories by 6.6% in the 4th quarter. Granite Investment Partners LLC now owns 48,614 shares of the semiconductor company's stock valued at $6,039,000 after buying an additional 3,019 shares during the last quarter. Sterling Capital Management LLC raised its position in Silicon Laboratories by 38.4% in the 4th quarter. Sterling Capital Management LLC now owns 18,981 shares of the semiconductor company's stock valued at $2,358,000 after buying an additional 5,269 shares during the last quarter. Kennedy Capital Management LLC lifted its stake in Silicon Laboratories by 7.5% during the 4th quarter. Kennedy Capital Management LLC now owns 29,524 shares of the semiconductor company's stock valued at $3,667,000 after acquiring an additional 2,060 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Silicon Laboratories during the 4th quarter worth $14,252,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SLAB shares. Benchmark reiterated a "buy" rating and issued a $160.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. Barclays dropped their target price on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Stifel Nicolaus reduced their target price on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Finally, KeyCorp lifted their price target on Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $129.00.

Insider Activity at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of the business'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 completion of the transaction, the director now owns 31,115 shares of the company's stock, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 400,567 shares of the company's stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Silicon Laboratories Stock Performance

NASDAQ:SLAB traded down $1.12 during trading hours on Friday, reaching $102.76. The stock had a trading volume of 319,614 shares, compared to its average volume of 327,454. The stock has a market cap of $3.34 billion, a P/E ratio of -17.30 and a beta of 1.33. The stock has a 50 day simple moving average of $116.65 and a 200 day simple moving average of $120.97. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month 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, hitting the consensus estimate of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. During the same quarter last year, the firm posted ($1.19) EPS. The firm's revenue for the quarter was up 91.4% on a year-over-year basis. On average, equities analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

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.