Envestnet Asset Management Inc. Has $13.15 Million Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Envestnet Asset Management Inc. trimmed its position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 105,836 shares of the semiconductor company's stock after selling 5,275 shares during the period. Envestnet Asset Management Inc. owned about 0.33% of Silicon Laboratories worth $13,147,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Silicon Laboratories by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock worth $491,859,000 after purchasing an additional 71,942 shares during the period. Geode Capital Management LLC grew its position in shares of Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company's stock worth $90,282,000 after buying an additional 15,728 shares during the period. GW&K Investment Management LLC raised its stake in shares of Silicon Laboratories by 5.6% during the fourth quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company's stock worth $84,723,000 after buying an additional 36,330 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in Silicon Laboratories by 2.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 469,883 shares of the semiconductor company's stock valued at $58,368,000 after buying an additional 8,992 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Silicon Laboratories by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 439,796 shares of the semiconductor company's stock valued at $54,631,000 after acquiring an additional 21,991 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on SLAB shares. Stifel Nicolaus dropped their target price 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. Barclays dropped their price objective on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday. KeyCorp raised their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Benchmark reaffirmed a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, Needham & Company LLC reissued a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $129.70.

Silicon Laboratories Price Performance

SLAB traded up $3.89 during trading on Tuesday, reaching $94.32. The company had a trading volume of 661,042 shares, compared to its average volume of 334,108. The company has a market cap of $3.06 billion, a P/E ratio of -15.88 and a beta of 1.33. Silicon Laboratories Inc. has a 12 month low of $82.82 and a 12 month high of $160.00. The business's fifty day moving average price is $119.66 and its 200 day moving average price is $121.28.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $166.25 million for the quarter, compared to analysts' expectations of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm's revenue was up 91.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.19) EPS. As a group, sell-side analysts predict that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the sale, the director now directly owns 400,567 shares in the company, valued at approximately $59,684,483. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,360 shares of company stock worth $782,610. Corporate insiders own 1.60% of the company's stock.

Silicon Laboratories 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.