Federated Hermes Inc. Has $79.31 Million Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Federated Hermes Inc. grew its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 638,464 shares of the semiconductor company's stock after purchasing an additional 25,178 shares during the quarter. Federated Hermes Inc. owned approximately 1.97% of Silicon Laboratories worth $79,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLAB. Captrust Financial Advisors grew its stake in shares of Silicon Laboratories by 26.2% in the third quarter. Captrust Financial Advisors now owns 4,330 shares of the semiconductor company's stock valued at $500,000 after buying an additional 900 shares in the last quarter. Verition Fund Management LLC boosted its position in Silicon Laboratories by 51.4% in the 3rd quarter. Verition Fund Management LLC now owns 5,528 shares of the semiconductor company's stock valued at $639,000 after buying an additional 1,877 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Silicon Laboratories during the third quarter valued at about $7,408,000. Stifel Financial Corp boosted its holdings in Silicon Laboratories by 1.7% in the third quarter. Stifel Financial Corp now owns 104,586 shares of the semiconductor company's stock valued at $12,087,000 after purchasing an additional 1,719 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Silicon Laboratories by 28.3% during the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company's stock worth $102,670,000 after purchasing an additional 195,997 shares during the last quarter.

Analyst Upgrades and Downgrades

SLAB has been the subject of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. Stifel Nicolaus boosted their price target on Silicon Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a report on Monday, January 6th. StockNews.com downgraded shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a report on Thursday, March 27th. Finally, Barclays raised their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $136.20.

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 stock was 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 owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the transaction, the director now directly owns 32,115 shares of the company's stock, valued at $4,520,828.55. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,360 shares of company stock worth $782,610. 1.60% of the stock is owned by corporate insiders.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB traded up $1.63 during midday trading on Friday, reaching $89.82. The company had a trading volume of 564,927 shares, compared to its average volume of 330,965. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The company has a fifty day simple moving average of $127.57 and a two-hundred day simple moving average of $122.46. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -15.12 and a beta of 1.33.

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 (EPS) for the quarter, hitting analysts' consensus estimates of ($0.11). The business had revenue of $166.25 million during the quarter, compared to analyst estimates 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 prior year, the firm earned ($1.19) earnings per share. Analysts expect that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

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.