Calamos Advisors LLC Buys Shares of 3,902 Silicon Laboratories, Inc. (NASDAQ:SLAB)

Calamos Advisors LLC acquired a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,902 shares of the semiconductor company's stock, valued at approximately $439,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Silicon Laboratories in the fourth quarter worth $14,252,000. Arizona State Retirement System increased its stake in shares of Silicon Laboratories by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock worth $1,163,000 after purchasing an additional 167 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Silicon Laboratories by 99.6% in the first quarter. GAMMA Investing LLC now owns 1,126 shares of the semiconductor company's stock worth $127,000 after purchasing an additional 562 shares in the last quarter. KBC Group NV increased its stake in shares of Silicon Laboratories by 27.1% in the first quarter. KBC Group NV now owns 1,625 shares of the semiconductor company's stock worth $183,000 after purchasing an additional 346 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Silicon Laboratories by 2.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,379 shares of the semiconductor company's stock worth $831,000 after purchasing an additional 210 shares in the last quarter.

Insider Transactions at Silicon Laboratories

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

Analyst Upgrades and Downgrades

SLAB has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, May 14th. 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. KeyCorp raised their target price on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday. Wall Street Zen raised shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Barclays cut their target price on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Silicon Laboratories currently has an average rating of "Moderate Buy" and an average target price of $129.00.

Silicon Laboratories Stock Performance

SLAB stock traded up $1.47 during trading on Thursday, hitting $142.79. 342,536 shares of the company's stock traded hands, compared to its average volume of 409,105. Silicon Laboratories, Inc. has a 52 week low of $82.82 and a 52 week high of $160.00. The business has a fifty day simple moving average of $131.83 and a 200 day simple moving average of $127.14. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -27.94 and a beta of 1.47.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The firm had revenue of $177.71 million during the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The business's revenue was up 67.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.92) EPS. Research analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Silicon Laboratories Company 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.