Assenagon Asset Management S.A. trimmed its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,975 shares of the semiconductor company's stock after selling 15,343 shares during the period. Assenagon Asset Management S.A. owned about 0.68% of Silicon Laboratories worth $48,952,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC acquired a new position in shares of Silicon Laboratories during the second quarter worth about $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Silicon Laboratories by 66.7% during the first quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company's stock worth $47,000 after buying an additional 90 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Silicon Laboratories in the 4th quarter valued at approximately $32,000. Covestor Ltd raised its position in Silicon Laboratories by 260.3% in the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock valued at $37,000 after buying an additional 203 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in Silicon Laboratories in the 4th quarter valued at approximately $44,000.
Silicon Laboratories Stock Performance
NASDAQ:SLAB opened at $219.21 on Friday. The stock's 50-day simple moving average is $218.29 and its 200 day simple moving average is $207.43. The company has a market cap of $7.23 billion, a P/E ratio of -143.27 and a beta of 1.37. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $220.90.
Insiders Place Their Bets
In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the transaction, the chief executive officer owned 80,519 shares of the company's stock, valued at $17,458,934.77. The trade was a 9.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Silicon Laboratories has a consensus rating of "Reduce" and a consensus price target of $218.00.
Read Our Latest Research Report on SLAB
About Silicon Laboratories
(
Free Report)
Silicon Laboratories NASDAQ: SLAB is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.
Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.
See Also
Want to see what other hedge funds are holding SLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Silicon Laboratories, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Silicon Laboratories wasn't on the list.
While Silicon Laboratories currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
