Silicon Laboratories, Inc. (NASDAQ:SLAB) Shares Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its holdings in Silicon Laboratories, Inc. by 74.5% in the first quarter, owning a total of 29,057 shares valued at approximately $3.27 million.
• Silicon Laboratories reported quarterly revenue of $177.71 million, a 67.0% increase from the same quarter last year, and surpassed analysts' expectations for earnings per share by $0.01.
• Recent analyst reports showed a mix of upgraded and downgraded price targets for Silicon Laboratories, with current average ratings reflecting a "Moderate Buy" status and an average price target of $139.00.

Alberta Investment Management Corp boosted its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 74.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 29,057 shares of the semiconductor company's stock after buying an additional 12,403 shares during the period. Alberta Investment Management Corp owned 0.09% of Silicon Laboratories worth $3,271,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Coldstream Capital Management Inc. raised its stake in shares of Silicon Laboratories by 2.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company's stock valued at $307,000 after acquiring an additional 68 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Silicon Laboratories by 1.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 6,668 shares of the semiconductor company's stock valued at $751,000 after buying an additional 100 shares during the period. State of Michigan Retirement System increased its stake in shares of Silicon Laboratories by 1.3% during the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company's stock valued at $878,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Silicon Laboratories by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the semiconductor company's stock valued at $1,024,000 after acquiring an additional 100 shares in the last quarter. Finally, Securian Asset Management Inc. grew its holdings in Silicon Laboratories by 4.2% during the 1st quarter. Securian Asset Management Inc. now owns 2,498 shares of the semiconductor company's stock worth $281,000 after acquiring an additional 100 shares in the last quarter.

Insiders Place Their Bets

In other news, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $528,604.80. Following the completion of the sale, the senior vice president directly owned 25,380 shares in the company, valued at $3,329,856. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Matthew Johnson sold 5,879 shares of Silicon Laboratories stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $771,324.80. Following the completion of the sale, the chief executive officer directly owned 73,688 shares in the company, valued at $9,667,865.60. This represents a 7.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,080 shares of company stock valued at $1,452,290 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SLAB shares. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Morgan Stanley decreased their price target on shares of Silicon Laboratories from $157.00 to $144.00 and set an "equal weight" rating for the company in a research report on Wednesday. KeyCorp increased their target price on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Susquehanna upped their target price on Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $151.13.

Silicon Laboratories Price Performance

NASDAQ:SLAB traded up $0.57 during midday trading on Thursday, hitting $124.33. The company's stock had a trading volume of 386,356 shares, compared to its average volume of 412,671. Silicon Laboratories, Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00. The firm has a market cap of $4.05 billion, a P/E ratio of -38.61 and a beta of 1.48. The firm's 50 day moving average is $138.57 and its 200-day moving average is $128.26.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. Silicon Laboratories had a negative return on equity of 7.21% and a negative net margin of 14.88%. The firm had revenue of $192.85 million for the quarter, compared to the consensus estimate of $192.57 million. During the same quarter in the prior year, the business earned ($0.56) earnings per share. The company's revenue was up 32.6% compared to the same quarter last year. As a group, analysts forecast that Silicon Laboratories, Inc. will post -0.97 EPS for the current 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.