Ameriprise Financial Inc. Purchases 3,436 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Ameriprise Financial Inc. raised its position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,992 shares of the semiconductor company's stock after buying an additional 3,436 shares during the quarter. Ameriprise Financial Inc. owned about 0.12% of Silicon Laboratories worth $4,719,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Barclays PLC raised its position in Silicon Laboratories by 23.4% in 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 during the last quarter. Park Avenue Securities LLC bought a new stake in Silicon Laboratories in the fourth quarter worth approximately $268,000. Nisa Investment Advisors LLC boosted its stake in Silicon Laboratories by 6.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,134 shares of the semiconductor company's stock worth $514,000 after acquiring an additional 240 shares in the last quarter. SG Americas Securities LLC increased its position in Silicon Laboratories by 1,106.4% in the 4th quarter. SG Americas Securities LLC now owns 23,791 shares of the semiconductor company's stock valued at $2,955,000 after buying an additional 21,819 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Silicon Laboratories by 42.1% during the fourth quarter. KBC Group NV now owns 1,279 shares of the semiconductor company's stock valued at $159,000 after acquiring an additional 379 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a report on Tuesday. Barclays decreased 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, April 22nd. Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, May 14th. Finally, Susquehanna raised their target price on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Silicon Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $126.50.

Silicon Laboratories Price Performance

Silicon Laboratories stock traded down $2.44 during trading hours on Friday, reaching $121.34. The company had a trading volume of 30,410 shares, compared to its average volume of 336,340. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -20.40 and a beta of 1.36. The company has a 50-day moving average price of $108.75 and a 200 day moving average price of $121.98.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $177.71 million for the quarter, compared to analysts' expectations of $177.48 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business's revenue was up 67.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.92) earnings per share. As a group, research analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Christy Wyatt sold 546 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total transaction of $57,029.70. Following the transaction, the director now directly owns 8,492 shares of the company's stock, valued at $886,989.40. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the transaction, the senior vice president now directly owns 25,380 shares of the company's stock, valued at $3,329,856. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,626 shares of company stock worth $1,509,319. 1.60% of the stock is currently owned by company insiders.

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.